Tarkwa is a major asset for Gold Fields, accounting for about a fifth of its global gold production.
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Gold Fields' discussions with the Ghana government are currently focused on the terms of the Tarkwa mining lease, despite calls from within the country to suspend the lease renewal due to attacks on Ghanaians in South Africa.
Ghana's government is facing pressure to act against South African firms following a wave of xenophobic protests in Africa’s biggest economy. More than 2,700 people from Ghana, Nigeria, Mozambique, and Malawi have already been assisted in returning home from South Africa amid fears that anti-immigrant demonstrations could escalate.
A few weeks ago, the Ghana First Alliance movement, which held public protests, appealed to the Ghana government not to renew the Tarkwa mining lease in 2027 when it expires, as reported by the Ghanaian Times. Their petition was a direct response to the unprovoked xenophobic attacks on Ghanaians based in South Africa.
The Institute of Economic Affairs in Ghana has also called for the leases not to be renewed. Earlier this year, the Ghana government decided not to renew Gold Fields’ Damang mine lease. Tarkwa is a major asset for Gold Fields, accounting for about a fifth of its global gold production.
Gold Fields stated on Monday that Gold Fields Ghana (GFGL), a 90% held subsidiary of Gold Fields and the holding company for the Tarkwa mine, had submitted an early application for the five Tarkwa mining leases that are due for renewal in April 2027, consistent with the agreement reached with the Government of Ghana in April 2025.
Following this submission in November 2025, Gold Fields has held several engagements with the Ghana government, with discussions now focusing on the terms of the mining lease renewals.
“The outcome, timing, and terms of the lease renewals remain the subject of these ongoing engagements with the government of Ghana,” the group said.
Gold Fields said it remains committed to both the Tarkwa mine and its continued operation in Ghana.
"Given the company's experience in delivering safe and responsible mining operations, employment creation, and partnerships in Ghana, along with its global technical expertise and investment capacity, Gold Fields believes it is well positioned to continue operating and growing the Tarkwa mine beyond the current life of the mine, creating shared value for both Ghana and Gold Fields," it said.
Ghana, Africa’s biggest gold producer, has steadily been moving to increase its share of mining revenue, raising royalties, once last year and again in May, on bullion to as much as 12% from 5%, and restricting bids for a former Gold Fields mine to local companies.
The Ghana Chamber of Mines warned on its website that lease revocations and renewal uncertainty risk creating the impression that "security of tenure in Ghana is not guaranteed," potentially hurting investment. It pointed out that the three mining operations at Tarkwa, of which Gold Fields is one, alone contribute 7.3% of the country’s tax income.
It was responding to the lease revocations of the Acangu, Salman and Nkroluf mining leases in April that were held by Adamus Resources, apparently due to breaches of mining laws and environmental regulation.
Gold Fields’ share price notched up 2.91% to R571.97 on Monday, while a year ago it was trading at R447.04.
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