Akufo-Addo Helped Me Get Damang Mine Deal – Ibrahim Mahama Confesses

The Chief Executive Officer of Engineers and Planners (E&P), Ibrahim Mahama, has stirred attention after revealing that former President, Nana Addo Dankwa Akufo-Addo played a key role in helping him secure the Damang Mine concession.

Speaking at the official takeover ceremony at Damang in the West Region over the weekend, the Ghanaian business mogul openly thanked the former President, saying his government’s backing helped smooth the early negotiations with Gold Fields.

“I must thank our former President, Nana Addo. He gave me a document to sit with Gold Fields, negotiate, and keep the mine going,” he said.

Mahama explained that he needed government clearance in the form of a “no objection” letter before the deal could proceed, adding that state involvement helped keep discussions on track until a final agreement was reached.

The Engineers and Planners boss stressed that the acquisition was not just a business win but part of a bigger vision to prove Ghanaian capacity in large-scale mining.

He also revealed that the company secured major financing deals after completing a detailed bankable study, with support from both local and international banks.

“We looked at it and realized we could do it. One bank gave us 650 million, another 600 million,” he noted.

Beyond mining operations, Mahama outlined ambitious development plans for the area, including the construction of an airport and major road upgrades linking the region to Cape Coast.

He further promised that profits from the mine would be reinvested locally into hospitals, sports facilities, and other community projects, insisting his commitment to the area is long-term.

The Damang Mine takeover follows a competitive bidding process after Gold Fields’ lease expired, with Engineers and Planners emerging as the successful new operators under government supervision.Top of Form

MINISTER CHARGES E&P

The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has issued a strong charge to Engineers and Planners Limited, urging the company to pump serious investment into the Damang Mine to boost growth, create jobs, and deliver real benefits to Ghana and host communities.

At the dramatic official handover ceremony transferring the Damang Mine from Gold Fields Ghana to E&P, the Minister made it clear that the transition goes beyond a simple change of operators.

“This is bigger than just a change of operators,” he stressed, describing the transition as proof that Ghana is increasingly capable of managing its own mineral wealth.

Delivering a pointed message to the new operators, the Minister said “Engineers and Planners, you are not just taking over a mine; you are carrying a nation’s confidence. This is only a leasing right, not a sell-off. The Republic of Ghana remains the owner of this mineral asset. When the lease expires, it will be reviewed.”

HOW THE DEAL WAS WON

The government confirmed that Engineers and Planners clinched the deal on April 7 after a competitive bidding process overseen by the Ministry of Lands and Natural Resources together with the Minerals Commission.

Four companies entered the race before the March 31 deadline, but only two—Engineers and Planners Limited and Heath Goldfields Limited—made it past the first stage after meeting key requirements such as proof of Ghanaian ownership and valid regulatory documents.

Two other bidders, Maripoma Mining Services Ltd and Vortex Resources Mining Group, were thrown out for failing to submit essential paperwork.

In the technical and financial evaluation stage, Heath Goldfields failed to meet the minimum 80% technical score, knocking it out of the race entirely.

Engineers and Planners, however, sailed through all stages, meeting both technical and financial requirements. The company also secured a massive $505 million financing package from Absa Bank and Stanbic Bank—well above the minimum required—sealing its victory in the hotly contested takeover.