The Ghanaian government has pledged to fast-track the creation of what is expected to be Africa’s largest gold mine—a joint venture between Gold Fields and AngloGold Ashanti. This move is part of Ghana’s broader ambition to position itself as a major mining hub on the continent.
The Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, reaffirmed the government’s commitment to facilitating the project’s swift execution during a meeting with the management of Gold Fields Ghana Limited on Friday, February 21, 2025, in Accra.
“The government will expedite the process to create Africa’s largest gold mine and make Ghana a mining hub,” Hon. Buah assured Gold Fields, making it clear that the government isn’t here to waste time. He further emphasized, “We want mining companies to understand and appreciate their responsibilities to host communities.”
This is not just about digging deep—it’s about thinking big. The Gold Fields-AngloGold Ashanti collaboration is expected to bring in massive investment, increase gold production, and solidify Ghana’s place as the gold capital of Africa. However, Hon. Buah made it clear that this isn’t a free-for-all, as companies must also prioritize local development.
Hon. Buah acknowledged Gold Fields as a vital partner in Ghana’s mining sector but urged the company to “strengthen its local content initiatives,” which he described as “essential for translating the benefits of mining into tangible improvements for communities.”
Meanwhile, Gold Fields Ghana’s Acting Managing Director, Mr. Elliott Twum, reaffirmed the company’s dedication to responsible mining and sustainable development.
“Gold Fields remains committed to developing mining projects that benefit our host communities and the nation at large,” Mr. Twum assured the Ministry. He further highlighted the company’s dedication to environmental and social interventions, the promotion of local content, and enhancing business supply chains.
Similarly, Vice President of External Affairs at Gold Fields, Mr. Michael Edem Akafia, stressed that close collaboration between the company and the government would lead to more meaningful improvements in the lives of local communities.
Background: Gold Fields and AngloGold Ashanti’s Joint Venture
Gold Fields and AngloGold Ashanti, two global mining giants, have a long history of operations in Ghana. Gold Fields owns the Tarkwa Gold Mine, one of the country’s largest and most productive gold mines, while AngloGold Ashanti operates the Iduapriem Gold Mine, located nearby. Both mines have played a crucial role in Ghana’s gold sector, contributing significantly to employment, local economies, and national revenue.
In March 2023, the two companies announced a strategic joint venture to merge the Tarkwa and Iduapriem mines into a single, large-scale operation. The goal is to create Africa’s largest gold mine, enhance efficiency, and secure long-term sustainability for the industry. Under the agreement, Gold Fields holds a 60% stake, AngloGold Ashanti 30%, and the Ghanaian government is expected to retain 10% to ensure national interests are protected.
This partnership is expected to increase production capacity, improve resource management, and solidify Ghana’s status as a key global gold producer. However, regulatory approvals and operational alignments are still in progress, with all parties working towards finalizing the venture.
