Ghana’s Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has called on Engineers and Planners Limited to make substantial investments in the Damang Mine following its successful acquisition of the concession.
The Minister made the appeal during the official handover ceremony of the mine on Saturday, April 18, marking the transition of operations from Gold Fields Ghana to the Ghanaian-owned firm.
He described the transition as a significant milestone, emphasizing that it reflects Ghana’s growing capacity to manage its natural resources while ensuring long-term national benefit.
“Engineers and Planners, you are not just taking over a mine; you are carrying a nation’s confidence,” he said. “This is only a leasing right, not a sell-off. The Republic of Ghana remains the owner of this mineral asset, and the lease will be reviewed when it expires.”
The government had earlier confirmed on April 7 that Engineers and Planners Limited emerged as the preferred bidder following a competitive tender process supervised by the Ministry in collaboration with the Minerals Commission.
Out of four companies that submitted bids before the March 31 deadline, only Engineers and Planners Limited and Heath Goldfields Limited met the mandatory requirements, including proof of Ghanaian ownership and statutory clearances.
Two other firms Maripoma Mining Services Ltd and Vortex Resources Mining Group were disqualified for failing to submit the required documentation.
Following the initial screening, a detailed technical and financial evaluation was conducted. Heath Goldfields Limited did not meet the minimum technical score of 80 percent, resulting in its financial proposal being excluded from further consideration.
Engineers and Planners Limited, however, satisfied all technical and financial criteria. The company demonstrated access to financing amounting to $505 million from Absa Bank and Stanbic Bank, surpassing the minimum requirement for the project.
With a combined weighted score of 93.15 percent the highest among all bidders the Tender Committee concluded that the company has the technical expertise, financial strength, and operational capacity to manage the Damang Mine and extend its lifespan beyond a decade.
The government maintains that the selection process was competitive and transparent, and that the transition signals a broader commitment to promoting indigenous participation in Ghana’s mining sector while safeguarding national ownership of mineral resources.
Source: www.kumasimail.com
