Accra: Ibrahim Mahama, the Chief Executive Officer of Engineers and Planners, has extended his gratitude to former President Nana Addo Dankwa Akufo-Addo for his pivotal role in facilitating the company's acquisition of the Damang Mine concession. The business mogul highlighted this during the official takeover ceremony, marking a significant milestone in the transition of the mine from Gold Fields Ghana Limited to Engineers and Planners.
According to Ghana Web, the process of acquiring the Damang Mine began back in 2022 when Gold Fields announced its intention to gradually cease operations. This development initiated discussions on the orderly transfer of the asset, involving multiple stakeholders, including the government. Mahama emphasized the critical involvement of the government in advancing the negotiations, acknowledging Akufo-Addo's essential support during the engagement process.
Mahama stated, "I must thank our former President Nana Akufo-Addo. He gave me a document to sit with Gold Fields and negotiate and keep the mine [Damang] going." He further elaborated on the state's role in facilitating discussions that eventually led to the successful agreement to transfer the concession through the necessary regulatory and licensing channels.
The business mogul underscored that the deal transcended a mere business transaction, aligning with efforts to enhance local capacity in large-scale mining operations within Ghana. "So, I engaged the government and told them that mining is not just buying equipment and working in there. It is the key people that you need to put together," Mahama stated.
Moreover, Mahama disclosed that Engineers and Planners conducted thorough technical and financial evaluations before securing the concession. This included undertaking a bankable feasibility study and securing funding commitments from both international and local financial institutions. "We did a bankable study. We looked at it and noticed that we could do it. We approached a few of the banks in here. One has given us 650 million, another 600 million," he noted.