The Parliament of Ghana has approved a new one-year mining (12 months) lease for Abosso Goldfields Limited. This means that the company will continue its gold mining operations at Damang in the Wassa West District of the Western Region.
The lease, which takes effect immediately following the expiration of the previous agreement on April 18, 2025, will run until April 2026. It comes with strict limitations — it is non-renewable, non-transferable, and cannot be used as collateral.
Government had initially planed to take over the mine after the lease expired. However, following further consultations, a decision was made to grant the company a final extension under tightened terms, aimed at ensuring a smooth transition while protecting national interest.
The Damang mine is a key contributor to gold production in Ghana and a major employer in the region.