Gold Fields files Tarkwa gold lease proposal with Ghana government

Gold Fields (JSE: GFI) submitted a “lease-renewal proposal” to Ghana this month for its Tarkwa gold mine, the company said on Monday.

The South African miner seeks to secure the long-term future of one of its biggest mining operations.

The ​lease for Tarkwa — a cornerstone asset ​for the South African miner that produced about 427,000 ounces of gold in 2025 — ​expires in 2027.

The company lost control of its smaller Damang mine in April after Ghana’s government declined to renew its mining lease, breaking with a longstanding practice of routinely extending permits for existing operators. The asset was subsequently awarded to local contractor Engineers & Planners (E&P), which has since begun production.

Some civil society groups and traditional leaders have called on the government – which has been implementing reforms aimed at boosting state revenue – to give the Tarkwa mine to locals, though officials have repeatedly said they remain committed to renewing the lease.

Ghana’s mines ministry did not immediately respond to a request for comment.

Gold Fields said its proposal sought to boost local participation, expand community benefits and procurement opportunities, and increase the mine’s long-term economic contribution. Gold Fields submitted a formal lease renewal application in November 2025 and is awaiting a government decision, it added.

The company said its financial strength, technical expertise and capacity to fund major reinvestment and mine-life-extension projects make it best placed to lead Tarkwa through its next phase. It added that continued operatorship would safeguard jobs, support local suppliers and sustain government revenues.

(Reporting by Anait Miridzhanian; Writing by Maxwell Akalaare Adombila; Editing by Ayen Deng Bior and Susan Fenton)