ACCRA, May 26 – Ghana’s government says it is committed to renewing the mining lease for Gold Fields’ Tarkwa gold mine, but has ruled out an automatic extension as it moves to tighten oversight of large mining assets.
The Minerals Commission, Ghana’s mining regulator, said the renewal process will require a full review of the company’s development plans before any approval is granted. Chief Executive Isaac Andrews Tandoh said Gold Fields has already held recent discussions with officials, including a meeting as recently as last Friday.
According to the commission, the company will first present its operational and investment plans to a technical committee before making a final case at ministerial level, after which a decision will be taken.
Tandoh said the government remains open to partnerships in the mining sector but will not continue the previous approach of automatic lease renewals without scrutiny.
The Lands and Natural Resources Ministry added that Ghana is not pursuing a broad nationalisation policy. Instead, it is seeking mining partners that contribute skills transfer and support local capacity development in host communities. The move comes amid rising scrutiny from civil society groups and local communities, some of whom have called for the lease not to be renewed, arguing that benefits from the mine have not been fairly shared.
The Tarkwa lease, a key asset for Gold Fields, produced about 427,000 ounces of gold in 2025 and is set to expire in 2027.
The latest position follows a similar decision earlier in April when Ghana rejected the company’s application to renew its Damang mine lease and took operational control of the site.
Meanwhile, the Ghana Chamber of Mines has warned that uncertainty around lease renewals could weaken investor confidence and raise concerns about security of tenure in the country’s mining sector.
