Gold Fields Group CEO, Mike Fraser, has reaffirmed the company’s long-term commitment to its Tarkwa operations in Ghana, revealing that an application has been submitted to extend the mine’s lease by at least two decades. Speaking to the media, Fraser stated that the company is “not stepping back from Tarkwa in any way,” underscoring its …
Gold Fields seeks 20-year lease extension for Tarkwa Mine
Gold Fields Group CEO, Mike Fraser, has reaffirmed the company’s long-term commitment to its Tarkwa operations in Ghana, revealing that an application has been submitted to extend the mine’s lease by at least two decades.
Speaking to the media, Fraser stated that the company is “not stepping back from Tarkwa in any way,” underscoring its strategic importance to Gold Fields’ global portfolio.
According to him, the lease extension application, submitted in November last year, is expected to secure an initial 20-year period of continued mining at the site, subject to regulatory approval.
Tarkwa remains one of Gold Fields’ key assets, contributing a significant share of the company’s overall production. Fraser noted that the proposed extension will require substantial reinvestment, including increased material movement, expansion of mining fleets, and additional manpower to sustain operations over the extended period.
He emphasized that the planned investments are aimed at maintaining Tarkwa as a world-class mining operation while supporting long-term value creation for both the company and Ghana’s economy.
Fraser also highlighted that Gold Fields is actively engaging government stakeholders, including the Ministry of Lands and Natural Resources, the Minerals Commission, and the Ministry of Finance, as part of the ongoing process to secure the lease extension.
The move comes amid broader discussions on the future of mining assets in Ghana, with the company positioning Tarkwa as a cornerstone of its continued presence in the country.
