By Kizito CUDJOE & Juliet Aguiar DUGBARTEY
Gold Fields has been directed by the government to cease operations and vacate its lease area at Damang by April 18, following the expiry of its lease.
The company said it is taking steps to wind down operations in a safe and responsible manner, with a focus on ensuring the security of personnel and managing high-risk activities. Gold Fields added that it remains in dialogue with the government in hopes of reaching an outcome that serves the interests of all stakeholders.
“These developments at Damang do not affect operations at Tarkwa, which remain ongoing,” the company said in a statement issued on Monday, April 14, 2025. “Gold Fields will update the market on any material developments as this matter evolves.”
Gold Fields is a globally diversified gold producer with nine operating mines in Australia, South Africa, Ghana, Chile and Peru, and one project under development in Canada.
The company reported attributable annual gold-equivalent production of 2.30 million ounces, with proved and probable mineral reserves of 46.1 million ounces. Its measured and indicated mineral resources, excluding reserves, stand at 31.1 million ounces, with an additional 11.2 million ounces in inferred resources.
Gold Fields is listed on the Johannesburg Stock Exchange (JSE), and its American depositary shares trade on the New York Stock Exchange (NYSE).
