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The stadium is expected to be the home ground of Ghana Premier League champions Medeama SC when completed.
Earlier this month, the Mauve and Yellow revealed plans to play their 2023/24 CAF Champions League matches at their new stadium.
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Medeama take first-leg advantage after beating Horoya 3-1 in CAF Champions League
However, with the ground still under construction, the Goldfields Ghana Foundation has delivered an update on the progress of work.
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A statement from Goldfields said: "The Foundation has so far invested over $13 million dollars in the stadium, out of a budgeted $16M, and this has proven to be one of the high-cost ticket items it has funded besides the Tarkwa to Damang asphalted road.
"Despite the facility being a public one, there is however an added cost of more than US$2 million dollars in taxes."
Meanwhile, Medeama were forced to adopt the Cape Coast Stadium as their home ground for the preliminary round of the Champions League.
But having overcome Nigeria’s Remo Stars and Guinea’s AC Horoya to book their place in the group stages, the club is now set to move into its new stadium.
Although the Member of Parliament for Tarkwa Nsuaem, George Mireku Duker, said the stadium will be commissioned in time to host Medeama’s Champions League group matches, a definite date has not yet been given.