‘No more forever deals’ – Minerals Commission defends Damang Mine takeover

Government is taking bold steps to indigenise its mineral wealth and ensure that Ghanaians truly benefit.

That was the clear message from Isaac Andrews Tandoh, Deputy CEO of the Minerals Commission, in an interview on Joy News’ PM Express Business Edition on Thursday, April 17.

His comments came just a day after the government announced it would not renew the mining lease of Gold Fields at Damang.

The South African firm has operated the mine for decades. The lease rejection means Ghana is now taking operational control of the gold-rich site.

“There hasn’t been a policy for nationalisation,” Andrews Tandoh said.

“We are not Burkina Faso. We are not Mali. But we are pushing for indigenisation.”

According to him, this is not about kicking out foreign investors.

“We support foreign investment. But some of these agreements cannot be in perpetuity. It cannot be forever.”

Andrews Tandoh said the Minerals Commission wants to see real value for the country.

“If you’ve been given a lease for 30 years and you’ve worked through the 30 years, it cannot be business as usual. Those neo-colonial types of agreements cannot continue.”

He was clear that the move is not political.

“This is about Ghana. This is about ensuring our infrastructure, our communities, and our people benefit from what is under their feet.”

While Ghana has long depended on foreign companies to lead major mining operations, Andrews Tandoh said the tide is turning.

“We’re not saying don’t come. We’re saying, let’s do fair business. Let’s look again at what we signed 30 years ago. The times have changed.”

He also hinted that other leases under review may face a similar fate if they don’t reflect Ghana’s long-term interest.

“We are evaluating everything. We are protecting Ghana’s future.”

Issac Andrews Tandoh dismissed any suggestion that the Damang decision would scare off investors.

“Genuine investors are not afraid of fairness. They are afraid of instability. We are offering structure, fairness, and a clear plan for growth.”

The Commission, he said, is working closely with the Lands Ministry to ensure transparency and a smooth transition.

“This is not abrupt. This is deliberate. It is strategic. And above all, it is for Ghanaians.”