The government is preparing to unveil a new, homegrown framework for the management of Ghana’s natural resources, signalling a bold step toward greater national control and accountability.

The announcement comes in the wake of recent developments surrounding the Damang gold mine, formerly operated by Gold Fields, whose 30-year lease has officially come to an end.

Despite appeals for renewal, the government has opted not to extend the lease.

However, in a bid to ensure a smooth transition, a one-year co-management agreement has been reached between Gold Fields and the government.

This temporary arrangement, pending parliamentary approval, will see both parties jointly operate the mine while laying the groundwork for a complete government takeover.

Speaking during a ministerial retreat in Ada, President John Dramani Mahama underscored the importance of resource sovereignty, declaring that Ghana is ready to take full charge of its natural wealth.

“This marks a new era in how we manage and benefit from our natural resources,” President Mahama stated. “The time has come for Ghanaians to own and lead the development of their resource sectors.”

The forthcoming framework is expected to redefine the governance of Ghana’s extractive industry by prioritising national interests, enhancing transparency, and ensuring that the wealth derived from natural resources is equitably shared among citizens.

The Damang mine transition is viewed as the first major test of this new policy direction, with stakeholders watching closely as Ghana reclaims control over one of its key mining assets.