Ghana locks out foreign-owned firms from Gold Fields' Damang mine sale

By Solomon Ekanem Business Insider Africa, New York Tuesday, March 31, 2026 Africa's top gold producer is pushing to boost domestic participation in the sector after refusing to renew the mine's lease, effectively ending Gold Fields' long-running operations at Damang as per Bloomberg. ... Dispatch continues below ... ... ADVERTISEMENT ... Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:  http://www.goldmoney.com/?gmrefcode=gata Gold Fields, which acquired interests in Damang in the 1990s, had already been considering an exit due to the mine’s ageing profile and declining reserves. The government’s decision accelerated that process, granting a 12-month extension to allow a "successful transition" to local ownership. While major assets remain under multinationals like AngloGold Ashanti, Newmont, and Zijin Mining Group, governments across Africa are seeking a larger share of resource revenues. ... ... For the remainder of the report: https://africa.businessinsider.com/local/markets/africas-largest-gold-producer-locks-out-foreign-owned-firms-from-gold-fields-damang/ly1lfy7 * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png