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Gold Fields to Hand Over Damang Mine to Ghana in April 2026, Ending 12-Month Transition Period

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Gold Fields has confirmed it will formally relinquish ownership and operational control of the Damang Mine on April 18, 2026.

This follows a government decision for the asset to transition to Ghanaian ownership, bringing to a close a carefully managed 12-month lease extension period.

The handover, announced by Chief Executive Officer Mike Fraser during a media roundtable on the company’s 2025 full-year results, marks a significant shift in Ghana’s mining landscape. The extension, granted after the original lease expired in April 2025, was specifically designed to ensure a “safe and seamless” transfer while discussions on the mine’s future were concluded.

Fraser disclosed that Gold Fields had applied for a renewal when the lease expired, but the government indicated a clear preference for the asset to transition to Ghanaian ownership—a direction the company accepted and supported. Since July 2025, a transition team appointed by the sector minister has been working alongside Gold Fields’ management at site to coordinate the handover process.

Uncertainty Looms Over Long-Term Operatorship

However, Fraser indicated that the company has not received formal communication regarding who will assume long-term operatorship once it exits. The transition team is expected to assume interim “leadership and operatorship” from April 19, 2026, pending the appointment of a substantive operator by government.

“We do not have any clear insights into what the minister’s intentions are post that,” Fraser said. “A new operator would need to be appointed and issued with a mining lease to continue operations—a process that could require parliamentary approval.”

Under Ghana’s mining framework, mineral assets revert to the state upon expiry of a lease, leaving government to determine the ownership and operating structure going forward.

Feasibility Study Suggests Nine More Years of Production

As part of the conditions tied to the extension, Gold Fields completed a feasibility study on Damang and submitted it to the Minerals Commission at the end of 2025. The study suggests the mine could sustain operations for at least nine additional years, with projected annual production between 100,000 and 150,000 ounces.

According to the company’s internal assessment, extending the life of the mine would require capital investment estimated between US$500 million and US$600 million. Management indicated that, based on prevailing gold price assumptions, the operation would remain profitable over that period, although it cautioned that a new operator could adopt a different technical or commercial model.

Employment and Community Impact

Beyond the ownership transition, the question of operational continuity looms large. The Damang Mine directly employs approximately 500 staff, with an additional 1,000 to 1,500 contractors engaged in mining services, logistics, and energy supply. In total, between 1,500 and 2,000 livelihoods are linked to the operation.

Fraser stressed that both the government and the transition team appear aligned on avoiding disruption. “Failure would occur if we don’t see a continuation of the asset,” he noted, explaining that the lease extension was structured specifically to prevent abrupt stoppages that could affect workers, contractors, and host communities.

Broader Portfolio Implications

The Damang exit marks an adjustment within Gold Fields’ Ghana portfolio, coming at a time when the company is also engaging authorities over the renewal of its Tarkwa mining lease. The outcome of these parallel negotiations will shape the company’s long-term footprint in one of Africa’s most prolific gold-producing nations.

Industry Watchfulness

Attention now turns to how swiftly the government will appoint a successor operator and secure the necessary approvals to ensure uninterrupted production beyond April 2026—a development that industry observers say will test policy execution and investor confidence in Ghana’s mining sector.

For the 2,000 workers and contractors whose livelihoods depend on Damang, and for the communities that have grown around the mine, the coming weeks will determine whether the transition delivers the continuity Gold Fields and government have worked to preserve.

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Young Self-Taught Black Inventor Julian Brown Develops Revolutionary Plastic-to-Fuel Technology

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Atlanta, USA – A young Black inventor from Atlanta, Julian Brown, has stunned the scientific community and gone viral worldwide after developing a backyard process that converts everyday plastic waste into usable diesel, gasoline, and jet fuel.

Born in Tennessee and raised in Atlanta, Brown — a self-taught welder with no formal degree or laboratory — created a system called “Plastoline.”

Using an upgraded form of pyrolysis (a thermal decomposition process), enhanced with microwaves and solar energy for cleaner conversion, he built a small reactor capable of turning discarded plastics back into high-quality fuel.

Independent tests reportedly confirmed that the diesel and gasoline produced are among the most refined seen, and he has successfully powered vehicles with the fuel in live demonstrations.

Brown launched a startup called Nature Jab and began sharing his experiments on Instagram and TikTok, where the videos quickly gained millions of views globally. Despite suffering second-degree burns in a reactor explosion, he refused to abandon the project.

He attempted to raise $1 million to scale the technology but secured only tens of thousands of dollars. In July 2025, he posted that he was under attack before temporarily vanishing from public view.

He has since re-emerged, with supporters calling for his protection and greater investment in his work.

The innovation has sparked particular excitement across Africa, where plastic waste accumulates in massive quantities in landfills and communities.

Experts say Brown’s technology could offer a practical solution for turning waste into energy, addressing both environmental pollution and fuel shortages on the continent.

Commentators have criticised the lack of substantial support from investors and the broader community, questioning why a breakthrough with such transformative potential, especially from a young Black inventor, has not received wider backing.

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MTN Signals Major Data Center Investment Plans in Ghana

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Accra, Ghana – MTN Group is exploring significant investments in data centers in Ghana as Part of its digital push.

The telecoms giant says the move is a natural extension of its broader digital infrastructure strategy in one of its most important African markets.

Group Chief Executive Officer Ralph Mupita made the announcement during a strategic visit to Ghana at the beginning of 2026. He said the company is keen to partner with both public and private stakeholders to develop large-scale data centers that would enhance cloud computing, data storage, and digital service capabilities across the country.

Mupita stated that such facilities are critical to supporting Ghana’s long-term digital transformation and economic growth.

He acknowledged, however, that establishing world-class data centers would require addressing key infrastructure challenges, particularly reliable power supply, suitable land, and advanced cooling systems. MTN is therefore considering collaborative models to ensure projects meet both commercial viability and sustainability standards.

During his engagements, Mupita held discussions with MTN Ghana’s leadership, regulators, and senior government officials, including the Bank of Ghana, the Ghana Investment Promotion Centre, and Minister for Communications, Digital Technology and Innovations, Sam George.

He described Ghana as a priority market that “feels like home” and reaffirmed the Group’s commitment to deepening investments in digital infrastructure and financial inclusion.

On the fintech front, Mupita highlighted plans to expand mobile money services while working closely with the central bank to strengthen fraud prevention through artificial intelligence.

The visit underscored MTN’s ambition to remain a key partner in Ghana’s digital economy, driving innovation, job creation, and inclusive growth.

MTN Ghana (Scancom PLC) is the dominant telecommunications market leader in Ghana and has been recognized as a top-performing operation within the MTN Group. The company is actively shifting from a traditional telco to a technology platform company, with a focus on fintech (Mobile Money) and digital inclusion.

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New Cashew Processing Plant and Fertilizer Facility to be Set Up in Ghana

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Accra, Ghana – Ghana’s Ministry of Food and Agriculture has signed three Memoranda of Understanding with Chinese firm SENTUO Group Limited to drive agro-industrial growth through major new investments in processing, fertiliser production, and farmer support services.

The agreements, signed in Accra on Tuesday, include the establishment of a cashew processing plant at Sampa in the Bono Region and a fertiliser manufacturing facility. SENTUO will also roll out 30 Farmer Service Centres nationwide to improve access to quality inputs, mechanisation services, and technical support for farmers.

The projects are expected to create significant employment opportunities, particularly for young people, while enhancing value addition and reducing Ghana’s reliance on raw commodity exports.

Minister for Food and Agriculture Eric Opoku described the partnership as a major step toward the government’s Agriculture for Economic Transformation Agenda.

“We are ready to industrialise Ghana’s agriculture,” he said, adding that the cashew plant will process both nuts and apples to maximise returns across the entire value chain.

He emphasised the need to move from exporting raw produce to building a vibrant, value-driven agro-industrial economy.

The Chairman of SENTUO Group Limited, Xu Mingjuan, said the company’s nearly 20 years of operation in Ghana and the current government’s 24-hour economy policy had encouraged further investment. He confirmed that engineers have already started preliminary work on the projects.

The deals signal growing Chinese interest in Ghana’s agricultural transformation and are expected to strengthen food security, boost exports, and create sustainable jobs across the value chain.

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