Africa’s top gold producer is weighing a transfer of the 475,000-ounce-a-year asset to Ghanaian firms when its lease expires next April, as the government pushes for greater local control over mining revenue.
Ghana is considering transferring control of the Gold Fields Tarkwa mine to local firms when its leases expire next April, as part of a broader push to increase national benefit from gold resources and capture more proceeds from high bullion prices .
The Minerals Commission has made clear that lease renewal for the South African miner will not be automatic, with officials requiring Gold Fields to present its future development plans to a technical committee and then to the ministerial level for approval . Ghanaian miners will need to submit bids for evaluation if the government proceeds with a transfer, though extending Gold Fields’ leases remains an option under consideration .
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The move follows a series of policy shifts designed to strengthen Ghanaian participation in the extractive sector. The government recently introduced a sliding-scale royalty system that raises gold royalties from five percent to as much as 12 percent when prices are high . A Local Content Bill is also being advanced to reserve mining-related ancillary services for Ghanaian-owned companies .
Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah stressed that the government has not adopted a blanket nationalisation policy but is seeking partners that will “leave behind expertise and empower Ghanaians in the industry” . He has emphasised that authorities want mining companies operating in the country to transfer skills to local communities and strengthen local participation .
The Tarkwa mine, described by gold Fields CEO Michael Fraser as a cornerstone asset, produced 475,000 ounces of gold in 2025, accounting for a fifth of the company’s total output . The company is working on a 20-year operations and investment plan for the mine and has submitted an early application for lease renewal .
Earlier this year, Gold Fields transferred its other Ghanaian operation, the mature Damang mine, to the state when its lease expired. The government held a tender for the asset, won by Engineers and Planners Co. Ltd., a Ghanaian-owned firm that has committed to reviving the aging asset while retaining most of the existing Goldfields-trained workforce .
According to a report by Accra Street Journal, the Ghana Chamber of Mines has expressed concern over recent developments, warning that uncertainty surrounding lease renewals could create doubts among investors about the security of mining investments in Ghana
Civil society organisations and residents in mining communities have urged the government not to renew the Tarkwa lease, arguing that its benefits have not been shared sufficiently with host communities . The administration has indicated that any bids will be assessed based on commitments to environmental rehabilitation, local employment, and infrastructure development in host communities
Source: Accra Street Journal
Last Updated on June 21, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
