After 33 Years, South Africa’s Gold Fields Risks Losing Tarkwa Mine as Ghana Considers Local Firms - Reports

• Ghana is reportedly considering revoking or not renewing the mining licence of Gold Fields at the Tarkwa mine when it expires in April 2027.

• The move forms part of a broader government push to increase local ownership and control of Ghana’s gold industry amid strong global gold prices.

• Authorities are also weighing whether to extend the lease, while any final decision is expected to consider jobs, environmental impact, and community development.

Ghana is considering handing over control of the Tarkwa gold mine, which is one of the country’s biggest mining operations to local companies when its mining lease expires in April 2027, according to reports by Bloomberg.

READ ALSO: Ghanaian lawmaker launches petition against renewal of South African-owned Gold Fields Tarkwa lease

The move highlights the government's growing push to ensure more Ghanaians benefit directly from the country’s gold wealth, especially at a time when global gold prices remain near record highs.

The Tarkwa mine is currently operated by South African mining giant Gold Fields. It is one of the company’s most important assets worldwide and a major contributor to Ghana’s gold output.

According to Bloomberg, if the government decides not to renew Gold Fields’ lease, Ghanaian-owned mining companies will be invited to submit bids to take over operations.

However, discussions are still ongoing, and authorities are also considering extending Gold Fields’ lease.

READ ALSO: Ibrahim Mahama’s Damang Gold Mine sells its first 110kg gold to Sammy Gyamfi-led GoldBod

In 2025, the mine produced about 537,000 ounces of gold, accounting for roughly 20% of Gold Fields’ total global production.

That makes Tarkwa the company’s single largest producing mine and one of the most valuable gold assets in Africa.

Gold Fields also owns a 45% stake in the nearby Asanko mine in Ghana. Ghana remains Africa’s top gold producer, overtaking South Africa in recent years. Gold exports continue to be one of the country’s biggest sources of foreign exchange, bringing in billions of dollars annually.

Government has recently taken steps to increase the country’s earnings from the mining sector.

The possible Tarkwa takeover also comes amid growing calls for resource nationalism across Africa, where governments are demanding greater local participation in extractive industries.

READ ALSO: Kwaku Manu tells President Mahama not to renew Gold Fields’ mining licence

Any decision on Tarkwa, sources told Bloomberg, will likely consider key issues such as environmental rehabilitation, employment for local workers and infrastructure development in surrounding communities. The debate has also taken on a political dimension.

President John Dramani Mahama’s administration is under pressure to protect Ghanaian business interests following recent anti-foreigner tensions in South Africa, where xenophobic protests reportedly affected several African nationals, including Ghanaians.