Gold Fields' Tarkwa mine lease renewal sparks Ghana ownership debate

The Institute of Economic Affairs (IEA) is leading a campaign urging Ghana to reject Gold Fields’ request to extend the lease on the Tarkwa gold mine beyond its expiry in April 2027 and to place the asset under Ghanaian ownership. Former Chief Justice Sophia Akuffo, former Speaker Prof. Mike Oquaye and IEA board chairman Dr. Charles Mensah argued that Ghana has the technical talent to run large‑scale mining and that a local consortium could retain more profit, create jobs and build expertise. Gold Fields has applied for a lease extension of at least 20 years, a move backed by the Ghana Chamber of Mines, which warned that a nationalist takeover could risk financing, technology and investor confidence.

Residents of Huniso, a host community of the mine, expressed support for the lease renewal, highlighting improvements in roads, water supply, schools, scholarships and healthcare linked to Gold Fields’ operations. Community leaders urged the government to involve locals in any negotiation, acknowledging the benefits of the mine while cautioning that a full Ghanaian takeover must consider capital and technical requirements.