19/04/2025
PRESS STATEMENT
Date: 19th April 2025
FOR IMMEDIATE RELEASE
*Haskee Institute Applauds Government’s Bold Move to Reclaim Damang Gold Mine, Calls for Sustained "Ghanaianization" of Natural Resources*
Accra, Ghana — The Haskee Institute of Economics and Development (HIED) commends His Excellency the President of the Republic of Ghana and his government for the decisive action to reclaim national ownership of the Damang Gold Mine following the expiration of its 30-year lease agreement with Goldfields Ghana Limited on 18th April 2025.
This landmark decision represents a pivotal shiftin Ghana’s natural resource governance, fulfilling the long-standing aspirations of citizens for greater control and value retention from the nation’s mineral wealth. For too long, Ghana’s extractive sector has been dominated by foreign multinationals operating under terms that prioritize external profits over local development, job creation, and equitable revenue sharing.
Many of these entities have managed strategic national assets while reporting minimal profits, thereby avoiding fair contributions through royalties, taxes, or dividends. Others have overseen the decline of once-thriving state enterprises, leaving them shadows of their former potential.
The Haskee Institute strongly endorses the government’s commitment to **“Ghanaianization” a policy that aligns with global best practices. Just as advanced economies like the United States safeguard strategic industries and negotiate favorable terms for their citizens, Ghana must assert sovereign control over its resources to secure economic independence, job creation, and sustainable development.
A Call for Strategic Implementation
While celebrating this bold step, we urge the government to:
1. Conduct a comprehensive audit of all major mining and extractive sector leases to ensure transparency and fairness.
2. Prioritize competent Ghanaians—both at home and abroad—in the management of reclaimed assets, leveraging local expertise in mining, engineering, finance, and governance.
3. Establish a robust framework for accountability, innovation, and value addition to maximize returns for the state and host communities.
4. Invest in communities impacted by mining operations, directing resource revenues toward infrastructure, education, healthcare, and skills development.
The Path Forward
Ghana’s future hinges on its ability to control and optimize its natural wealth for the benefit of all citizens. The reclamation of the Damang Gold Mine is not merely symbolic—it is an economic imperative and a testament to visionary leadership.
We commend the President for his courage and foresight and call on all stakeholders to support this transformative agenda. Together, we can build a Ghana where resources serve the people, not foreign interests.
Ayekoo! Let us rise and build a nation that works for all.
Signed:
Idirisu Gbeti Issaka
Founder and President
Haskee Institute of Economics and Development
Contact: 0240272011 / 0244636309
Email: [email protected]
