Ibrahim Mahama thanks former President Akufo-Addo for support in Damang Mine acquisition
via GhanaWeb2 min read
Ibrahim Mahama, Chief Executive Officer of Engineers and Planners, expressed gratitude to former President Nana Addo Dankwa Akufo-Addo for his assistance in the company's acquisition of the Damang Mine concession. Speaking at the official takeover ceremony on April 18, 2026, Mahama detailed the extensive process that led to the transfer of the mine from Gold Fields Ghana Limited to Engineers and Planners. He noted that discussions began in 2022 when Gold Fields announced plans to cease operations, prompting negotiations for an orderly handover. Mahama highlighted the government's crucial role in advancing these talks, specifically acknowledging former President Akufo-Addo's support in the engagement process. He stated that the former President provided a document to facilitate negotiations with Gold Fields to ensure the mine's continued operation. Mahama also mentioned that the government helped streamline discussions, leading to an agreement for the concession transfer through regulatory and licensing channels. He emphasized that the deal was not merely a business transaction but also aimed at building local capacity in large-scale mining in Ghana. Engineers and Planners conducted thorough technical and financial evaluations, including a bankable feasibility study and securing funding from international and local financial institutions, with one bank providing 650 million and another 600 million.
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This summary was AI-generated from a story originally published by GhanaWeb.
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