Gold Fields Limited has reaffirmed its long-term commitment to Ghana’s mining sector, with plans to secure a Tarkwa Mine lease extension that could sustain operations for another two decades.
Speaking during a visit to the Apinto Divisional Stool at Awudua in Ghana’s Western Region, Chief Executive Officer Mike Fraser revealed that the company applied in November 2025 for a 20-year extension of its lease for the Tarkwa Mine.
Mr Fraser underscored the critical role Ghana plays in the company’s global operations, noting that its Ghanaian assets contribute significantly to output.
“Twenty-five percent of our global production comes out of Ghana, that is a quarter of our global production,” he said, describing Tarkwa as “an important part of our business.”
He acknowledged disappointment over the exit of the Damang Mine from the company’s portfolio but stressed that Tarkwa remains central to Gold Fields’ long-term strategy.
Expansion and Reinvestment Plans
The proposed lease extension is expected to come with substantial reinvestment to sustain production levels and extend the mine’s lifespan.
“We are not going to give up on Tarkwa Mine in any way,” Mr Fraser said, adding that the company would “invest heavily in additional fleets of equipment” and expand manpower to support increased mining activity.
According to him, the next phase of operations will require moving significantly larger volumes of material, reinforcing the mine’s status as a world-class asset.
Beyond production, Mr Fraser emphasised Gold Fields’ commitment to host communities, noting that its strategy goes beyond shareholder returns.
“Our strategy is not just to mine gold for the benefit of shareholders, but also to make a meaningful difference in the host communities in which we operate,” he said, highlighting ongoing development initiatives in Tarkwa and Damang.
Community Expectations
Representing the Apinto Divisional Stool, Nana Adarkwa Bediako welcomed the company’s leadership and pledged continued support for mining activities.
However, he urged Gold Fields to deepen its community investment by supporting key projects, including improved road infrastructure between Awudua and Prestea, upgrading the chief’s palace, and assisting plans to establish a College of Health in the area.
With the lease application under consideration, Gold Fields’ continued presence in Tarkwa signals confidence in Ghana’s mining environment and the long-term viability of the asset.
If approved, the extension is expected to secure jobs, sustain local economic activity and reinforce Ghana’s position as a leading gold producer in Africa.
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