Gold Fields Ordered to Cease Damang Operations After Lease Extension Rejected

MT Newswires Live

2025/04/15

Gold Fields (GFI) said Monday that the Minerals Commission of Ghana has rejected its application to extend the main lease of the Damang mine, which was submitted in December 2024.

The government has instructed the company to cease operations and vacate the lease area by April 18, upon the lease's expiry.

The gold producer noted that operations at its Tarkwa mine in Ghana remain unaffected.

Shares of Gold Fields were down nearly 5% in recent trading.

Price: 23.36, Change: -1.20, Percent Change: -4.89

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