Ibrahim Mahama’s Engineers and Planners Ltd (E&P) has been awarded the Damang Mining Lease following a rigorous selection process that tested both the financial strength and technical capacity of competing firms.
The approval, granted by the Ministry of Lands and Natural Resources, marks the end of a competitive tender designed to secure a long-term future for the Damang Mine, one of Ghana’s key mining assets.
Announcing the decision on April 7, 2026, Lands Minister Emmanuel Armah-Kofi Buah said he had accepted the recommendation of a dedicated Tender Committee, which assessed all bids submitted before the March 31 deadline.
Out of the four companies that entered the race, E&P distinguished itself as the only bidder to fully meet the financial benchmark, providing “evidence of access to financing, meeting the USD 500 million minimum threshold”.
The committee further indicated that E&P demonstrated a strong grasp of the mine’s operational realities, including its geology and infrastructure, backed by a detailed strategy to keep the mine productive for at least the next ten years.
“The Company demonstrated the highest capability to operate the Damang mine, substantiated by their submission of the most viable tender,” the report concluded.
The evaluation was carried out in two stages in line with LI 2176. During the preliminary phase, companies were required to meet mandatory conditions such as valid tax documentation, SSNIT and VAT clearances, and payment of a GHS 100,000 application fee. Two firms—Maripoma Mining Services Ltd and Vortex Resources Mining Group—were eliminated at this stage after failing to comply fully with the requirements.
This left E&P and Heath Goldfields Ltd to proceed to the technical assessment. However, Heath Goldfields did not attain the minimum qualifying score of 80 percent, resulting in the exclusion of its financial bid.
With the process concluded, the government’s decision is expected to ensure continuity at the Damang Mine while reinforcing local participation in the mining sector. The selection of a wholly Ghanaian-owned company that meets global financing standards underscores efforts to balance local content with operational efficiency.
The Minerals Commission has now been directed to complete the necessary regulatory procedures to formalise the lease arrangement and support the rollout of a new 10-year development plan for the mine.
