en.Wedoany.com Reported - According to sources familiar with the matter, the Ghanaian government is considering transferring control of the Tarkwa gold mine, operated by South African gold producer Gold Fields, to local companies after the mining lease expires in April 2027. This is part of the country's strategy to strengthen control over the gold industry and capture more mining revenue amid high gold prices. As Africa's largest gold producer, Ghana has been pushing to increase its share of mining revenue in recent years, raising the gold royalty rate from 5% to a maximum of 12%.
The Tarkwa gold mine is one of Gold Fields' most important assets, with gold production of approximately 475,000 ounces in 2025, accounting for about one-fifth of the company's global gold output. For South Africa-based Gold Fields, losing control of this mine would be a significant blow. Gold Fields stated that it has submitted an early application for renewal of the Tarkwa mine's mining lease, and constructive communication with the Ghanaian government continues.
According to Bloomberg, the Ghanaian government is also considering an alternative option of extending Gold Fields' mining lease for the Tarkwa gold mine. If the government ultimately proceeds with the transfer plan, interested local Ghanaian mining companies will need to submit bids for government evaluation. Evaluation criteria include commitments to environmental remediation, local job creation, and contributions to infrastructure development in the mining community. The Ghanaian government believes that placing the Tarkwa gold mine under local control could create more development opportunities for domestic engineers, suppliers, and entrepreneurs, thereby fostering the growth of the local mining industry chain.
In fact, the Tarkwa mine is not the first Gold Fields project in Ghana to face adjustments. Earlier this year, another mature Gold Fields mine in Ghana, the Damang gold mine, was handed over to the Ghanaian government after its mining lease expired. The government subsequently launched a public bidding process, with the winning bid ultimately awarded to Engineers and Planners Co. Ltd., a company owned by the brother of Ghanaian President John Mahama.
These measures indicate that, against the backdrop of sustained high global gold prices, Ghana is further advancing its strategy of localizing mining resources, aiming to retain more value from the gold industry within the country.
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