A Tender Committee has recommended the grant of the mining lease for the Damang Gold Mine to Engineers and Planners (E&P) Limited, following a competitive evaluation process conducted by the Minerals Commission.
The recommendation followed a tender process initiated under Regulation 258 of the Minerals and Mining (Licensing Regulations), 2012 (LI 2176), aimed at selecting a strategic investor to take over the mining lease and operations of the Damang mine.
Maxwell Yao Akpene Klu, Chairman of the Tender Review Committee and Deputy CEO of Small Scale and Industrial Minerals at the Minerals Commission, disclosed that the committee was duly constituted under Regulation 261 of L.I. 2176.
Members included representatives from the Minerals Commission, the Ghana Geological Survey Authority, and the Environmental Protection Authority (EPA).
At a meeting on March 30, 2026, the committee co-opted Richard Kofi Apenu of the Ministry of Lands and Natural Resources and Leona Serwaa Johnson Abasa of the Attorney General’s office as non-voting members.
The report indicated that four companies responded to the public tender announced in the media.
Out of these, two firms, Engineers & Planners and Heath Goldfields Limited, were shortlisted by the Mineral Titles Department of the Minerals Commission and subsequently submitted to the Tender Committee for detailed assessment.
After what was described as a comprehensive evaluation, the Tender Committee submitted its report to the ministry of Lands and Natural Resources on Tuesday, April 7, 2026, and recommended that the operations of Damang Mine be given to E&P based on a 93.15% of overall score on both Financial and Technical Proposals.
Heath Goldfields Limited, according to the report, did not attain the minimum technical score required in the tender for the Damang Gold Mine.
The committee’s evaluation showed that Heath Goldfields Limited fell short of the 80 percent threshold in the technical assessment and was therefore excluded from further consideration, including the financial evaluation of its proposal.
Engineers and Planners Limited, by contrast, met all technical and financial requirements.
The company provided evidence of access to financing totaling US$505 million from ABSA Bank and Stanbic Bank, exceeding the minimum requirement of US$500 million for project development.
Technical scores were weighted at 80 percent and financial scores at 20 percent.
Engineers and Planners Limited received a weighted technical score of 76.32 and a financial score of 16.83, giving the combined total of 93.15 percent.
In accordance with Regulation 263 of the Minerals and Mining (Licensing Regulations), 2012 (LI 2176), the Tender Committee declared Engineers and Planners Limited the successful bidder for the Damang Mining Lease and recommended it for approval by the Minister for Lands and Natural Resources.
Gold Fields Ghana Limited, which has operated in the country since its incorporation in 1993, currently holds a 90 percent stake in its mining operations, while the Government of Ghana retains a 10 percent free carried interest in line with Section 43 of the Minerals and Mining Act, 2006.Regional event listings
The Damang mine, one of the country’s significant gold-producing assets, is expected to benefit from renewed investment and operational oversight should the recommendation be approved.
The tender process and subsequent recommendation form part of broader efforts by the Ministry of Lands and Natural Resources and the Minerals Commission to ensure transparency, efficiency, and value maximisation in the management of Ghana’s mineral resources.
