The government has officially approved Engineers and Planners (E&P) Limited as the new operator of the Damang Gold Mine, following a competitive tender process in which the indigenous firm secured the highest score of 93.15%.
The decision marks a significant milestone for local participation in Ghana’s mining sector. The Tender Review Committee, instituted by the Ministry of Lands and Natural Resources, evaluated four tenders submitted by the March 31, 2026 deadline. E&P achieved a weighted technical score of 76.32 and a financial score of 16.83, resulting in a combined total of 93.15 percent. The company also demonstrated access to financing totalling $505 million from ABSA Bank and Stanbic Bank, exceeding the $500 million minimum threshold for project development.
Disqualification of other bidders
Two of the four companies that submitted tenders were disqualified at the mandatory requirements stage. Vortex Resources Mining Group and Maripoma Mining Services Ltd were deemed non-responsive for failing to submit the required documentation, including valid tax, SSNIT, and VAT clearance certificates, and payment of the GHS100,000 application fee.
Heath Goldfields Ltd met the mandatory requirements but failed to attain the minimum 80 percent threshold in the technical assessment and was therefore excluded from further consideration, including the financial evaluation of its proposal.
Strategic advantages
The Tender Committee concluded that E&P had the greatest capability to operate the Damang mine, supported by its extensive experience, intimate knowledge of the mine’s operations and infrastructure, and proposals to extend the mine’s life beyond a ten-year horizon. Gold Fields itself had previously placed E&P at the centre of the transition. In a November 11, 2025 letter to the Lands Minister, Gold Fields highlighted E&P’s technical competence and deep familiarity with the mine’s unique operating conditions, stating that “the incumbent mining contractor is well experienced in the operating conditions at Damang.”
Political context
The development comes amid scrutiny from the Minority Caucus in Parliament, which has previously raised concerns about a possible conflict of interest given that E&P is owned by Ibrahim Mahama, a brother of President John Dramani Mahama. Ibrahim Mahama, who founded E&P in 1997, is on the verge of making history as the first African to lead the Damang Mine. A final decision is still required to go to Parliament for approval.
Damang Mine background
The Damang Mine, located in the Western Region, has been operated by Gold Fields Ghana Limited since 1993, with the company holding a 90 percent stake while the Government of Ghana retains a 10 percent free carried interest. The mine’s lease was set to expire on April 18, 2026, after a one-year extension. The Damang Gold Mine has produced more than 4 million ounces of gold since operations began in 1997.
What’s next
The Ministry of Lands and Natural Resources has directed the Minerals Commission to take all necessary regulatory steps to implement the approval, in line with Regulations 262(1)(b) and 263 of the Minerals and Mining (Licencing Regulations), 2012 (LI 2176). The approval of Engineers and Planners Limited as the new operator is expected to bring renewed investment, operational oversight, and long-term development to one of Ghana’s key gold-producing assets. The transition, if finalised, would set a precedent for greater local participation in one of Ghana’s most critical economic sectors.
