The Ghana Chamber of Mines has expressed concern at the impasse between the government and Gold Fields Ghana over the mining company’s license renewal for the Damang Mines.
In a statement the Chamber, the largest mining industry association in the country, said although it recognizes the government’s prerogative in the granting and renewal of mining leases, it was concerned about the latest development over the Damang Mines.
“We believe that decisions of this nature have significant implications for the mining industry, investor confidence, and the overall economic growth of the nation,” the chamber said.
It said the rejection of a renewal application raises questions about the long-term security of mining investments in Ghana and could potentially send a negative signal to both domestic and international investors.
“This development has the potential to undermine Ghana’s hard-earned reputation as a leading destination for mining investment in Africa,” it cautioned, urging the parties involved to engage in open and transparent discussions to understand the underlying reasons for this decision and to work towards an amicable resolution.
The Chamber reiterates its commitment to working closely with the government, regulatory bodies, and other stakeholders to foster a conducive environment for responsible and sustainable mining practices that benefit both the good people of Ghana and investors in our sector, said the statement.
“We urge all parties to prioritize dialogue and collaboration to resolve this matter swiftly and effectively, thereby safeguarding Ghana’s enviable position as an investment destination of choice on the African continent,” the chamber added.