The Ibrahim Mahama Era Begins: Engineers & Planners Take Over Damang Mine with $1.2 Billion Investment Plan
The Financial Powerhouse
Ibrahim Mahama revealed that the acquisition wasn’t just “talk.” E&P has secured massive international backing to prove that a Ghanaian firm can run a world-class mine.
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The Funding: Two major banks have stepped up, with one offering $650 million and another $600 million in financing.
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The Equipment: To hit the ground running, E&P has already dispatched 30 new Caterpillar 785D mining trucksto the site.
The “Game-Changer” Promises
The most viral part of today’s ceremony was Mahama’s commitment to local infrastructure. He specifically stated, “This is not political talk; this is real talk.”
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Damang Airport (6 Months): E&P has applied to build an airport in Damang so that workers and investors can fly directly to Accra within 45 minutes, skipping the long road trips.
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Concrete Road to Cape Coast (2 Years): He pledged to build a durable concrete road connecting the mine to Cape Coast, which will revolutionize transport for the entire Western North and Central regions.
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Two Modern Hospitals: To address the lack of emergency care in the area, the company will build two hospitals so residents no longer have to travel all the way to Tarkwa for surgery.
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Education & Sports: Plans include modern school facilities and Astroturfs for all surrounding communities to support the youth.
Why Damang is a Challenge
It’s not all easy gold. Mahama acknowledged that the rocks in Damang are some of the toughest on the continent, which wears down equipment faster. However, E&P’s 30 years of experience as contractors for the previous owners (Gold Fields) gives them a unique “insider” advantage to keep the mine profitable for the next 10+ years.
