The Government of Ghana is reportedly considering transferring control of the Tarkwa Mine to local mining firms when the current lease held by Gold Fields expires in April 2027.
According to a report by Bloomberg, citing sources familiar with ongoing discussions, the proposal forms part of broader efforts to increase Ghanaian participation and ownership in the country’s lucrative gold mining sector. The sources, who requested anonymity because discussions remain at a preliminary stage, indicated that no final decision has yet been taken.
If the proposal proceeds, local mining companies would be invited to submit bids for government assessment and approval.
The report noted that any potential transfer of the mining lease would be evaluated based on several factors, including commitments to environmental rehabilitation, local employment creation and infrastructure development in communities surrounding the mine.
Government sources believe that placing the asset under local control could create additional opportunities for Ghanaian engineers, suppliers, contractors and entrepreneurs while strengthening domestic participation in the mining value chain.
However, the possibility of extending Gold Fields’ lease has not been ruled out. According to Bloomberg’s sources, discussions between the company and the government remain ongoing.
Gold Fields confirmed that it has already submitted an early application for lease renewal and described its engagements with the government as constructive.
The Tarkwa Mine remains one of Gold Fields’ most important operations globally. The mine contributed approximately one-fifth of the company’s total gold production last year, making it the South African mining giant’s largest asset by output.
The development comes as the government intensifies efforts to secure a greater share of revenue from Ghana’s natural resources. Recently, authorities moved to increase royalties on bullion production from 5 per cent to as much as 12 per cent, reflecting a broader strategy to maximise returns from the mining sector amid rising global gold prices.
Any decision regarding the future of the Tarkwa Mine is expected to attract significant interest from both local and international investors, given the mine’s strategic importance to Ghana’s economy and the global gold industry.
