Ghana Will Only Let Locally Owned Firms Buy Gold Fields Mine

Ghana’s search for a new owner of a Gold Fields Ltd. mine that the government is about to take control of will be limited to locally owned companies.

Gold Fields previously considered whether to sell the Damang operation, but the government refused to renew the mine’s lease last year. Authorities then granted a 12-month extension, which required the company to ensure “the successful transition of the asset to ownership by the people of Ghana.”