Ghana commits to renewing Gold Fields Tarkwa lease but rules out automatic extension
ACCRA – Ghana's government is committed to renewing the mining lease for Gold Fields' Tarkwa mine, it said on Monday, adding that it will subject the South African miner to fresh scrutiny of its plans before any renewal is granted.
Isaac Andrews Tandoh, CEO of Ghana's Minerals Commission, the sector regulator, denied the government was delaying the lease renewal process, saying officials had held meetings with Gold Fields as recently as last Friday.
Tandoh said the company must present its development plans to a technical committee at the Minerals Commission, followed by a ministerial-level presentation, after which a decision on renewal will be made.
"It won't be business as usual where we just automatically renew the lease," Tandoh told Reuters.
Lands and Natural Resources Minister Emmanuel Armah Kofi Buah said the government had not adopted a blanket nationalisation policy to take advantage of the sector but was seeking partners that would leave behind expertise and empower Ghanaians in the industry.
Some civil society and community groups have called on the government not to renew the Tarkwa lease, arguing that its benefits have not been shared sufficiently with host communities.
In April 2025, the government rejected Gold Fields' application to renew its lease for the Damang mine and assumed operational control of the asset.
The Ghana Chamber of Mines warned this month that lease revocations and renewal uncertainty risk creating the impression that "security of tenure in Ghana is not guaranteed", potentially hurting investment.
The lease for Tarkwa — a cornerstone asset for the South African miner that produced about 427 000 ounces of gold in 2025 — expires in 2027.
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