By Erica Apeatua Addo, GNA
Tarkwa (W/R), April 22, GNA – Dr. Frank Boateng, the Acting Director for Institute of Mineral Resource Investment and Governance at the University of Mines and Technology (UMaT), Tarkwa, has reminded Engineers and Planners (E&P) not to disappoint the government as they have secured full control of the Damang Mine. Â
He stated that everyone was excited that a Ghanaian owned the Damang Mine, formerly operated by Gold Fields Ghana Limited and they (the new owners) felt it as well.
Dr. Boateng said E&P should do all they could to ensure the workers remained happy, adhere to all the environmental regulations and settle taxes due to the state promptly.
He said: “E&P ought to do all the things a white man would have done.”
Dr. Boateng gave the advice in an interview with the Ghana News Agency (GNA) and said although the country had never done this before, it was a good step it aimed to empower Ghanaians and retain the money in the country.
He explained that initially, the country’s expertise in the mining sector was low and they depended solely on expatriates with the assurance given to them that a long lease would be provided to give them enough comfort to operate.
He further explained that the government required that each year, when profit was made and dividends were declared, 10 per cent would be given to the government as their equity contribution, which the government of Ghana owned in these companies.
Apart from this, Dr. Boateng stated that all companies would be required to pay Corporate Income Tax at the end of each year based on their gross profit.
According to him, all they knew was this and it worked: the expatriates brought in capital, started the Mine, and shipped the gold away.
“Ghana has open up in terms of our decision on mining. We have, one of the best institutions in the Sub-Saharan Africa, training mining engineers, at the UMaT, and almost every part on this planet that mining is happening, you will find a Ghanaian when you go there.”
He said this indicated they had grown and understood mining decisions now, stressing that, some of their mining entrepreneurs had been active in mining for a long time.
Additionally, Dr. Boateng noted that laws now backed local content, which empowered Ghanaians to get actively involved in the mining process.
He appealed to the government to establish the right structures, so it could fully participate in the mining sector and ensure its citizens and the nation benefited from what they were doing.
Engineers & Planners Ltd took over the operations of the Damang Mine on April 18, 2026, after meeting the $500M minimum threshold.
Mr Ibrahim Mahama, the CEO of E&P, pledged to construct a concrete road to Cape Coast within two years, plus and airport in six months.
The Mine is expected to create jobs including 500 direct staff and between 1,000 and 1,500 contractors.
At the handing over ceremony was Lands Minister Emmanuel Armah-Kofi Buah,
GNA
Edited by Justina Hilda Paaga/Benjamin Mensah