Govt signals tougher scrutiny before renewing Gold Fields’ Tarkwa lease, Reuters report

Government has indicated that it remains committed to renewing the mining lease for Gold Fields’ Tarkwa mine but says the process will face stricter scrutiny before any approval is granted, according to a Reuters report.

Reuters reported on Monday that the Chief Executive Officer of the Minerals Commission, Isaac Andrews Tandoh, dismissed claims that government was deliberately delaying the renewal process.

According to Reuters, Mr Tandoh said government officials had held meetings with Gold Fields as recently as last Friday.

He explained that the mining company would first have to present its development plans to a technical committee at the Minerals Commission before making another presentation at the ministerial level.

A final decision on the renewal would then be taken after those processes are completed.

“It won’t be business as usual where we just automatically renew the lease,” Mr Tandoh told Reuters.

Reuters also reported that Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah said government had not adopted a blanket nationalisation policy in the mining sector.

According to him, the government was instead seeking partnerships that would transfer expertise and create more opportunities for Ghanaians within the industry.

The report comes amid growing debate over mining lease renewals in Ghana.

Reuters noted that some civil society and community groups have urged government not to renew the Tarkwa lease, arguing that host communities have not benefited sufficiently from the mine’s operations.

Concerns over investor confidence have also emerged following government’s decision in April 2025 to reject Gold Fields’ application to renew the lease for the Damang mine before assuming operational control of the asset.

Earlier this month, the Ghana Chamber of Mines warned that lease revocations and uncertainty surrounding renewals could create the perception that “security of tenure in Ghana is not guaranteed,” potentially affecting investment inflows into the sector.

Reuters further reported that the Tarkwa mine remains a key asset for Gold Fields, producing about 427,000 ounces of gold in 2025.

The current lease for the mine is expected to expire in 2027.

المصدر: MyJoyOnline (GH)