Former Corporate Affairs Manager for Ghana COCOBOD, Fiifi Boafo, has questioned the rational behind the government’s decision not to renew Goldfield’s mining lease for the Damang mine.
He is questioning whether there is a powerful hand behind this decision taken by the government.
In a post shared via social media, Fiifi Boafo expressed worry about how the decision by the government could affect investor confidence in Ghana in the wake of allegations that some of the mining companies out of frustration are already packing out of the country.
What’s even baffling to him, is the fact that the decision will have an adverse effect on employees, locals and the community which has over the years benefited from the existence of Goldfields.
“Why is Goldfields struggling to get it Damang mine Lease renewed? Is there a powerful hand frustrating the renewal in order to take over the mine? What will be the effect on investor confidence in the country? Who stands to benefit from the potential refusal of the lease renewal, Will it be the government, employees, the local community or …? Interesting days ahead,” he said in a post shared via social media.
Background
Goldfield’s application for an extension of their lease for the Damang main mining lease has been rejected by the government.
A memo to staff of the organization indicated that their lease expires on April 18, 2025; however, all attempts to renew it have proven futile.
However, they are engaging with the Lands and Natural Resources Minister in an effort to resolve the current situation.
In the interim, Goldfields has told its workers that they must begin preparing to comply with the expiry of the mining lease.
