Gold Fields has revealed that it is open to exploring all options and avenues including legal , on fresh proposals for the renewal of the Tarkwa mine lease.

According to the mining giant, this is to ensure that it gets a fair and equitable treatment on the consideration lease renewal of the Tarkwa mines by the Government of Ghana.

The Chief Executive of Gold Fields, Mike Fraser, disclosed this to Journalists around the world through a conference call from South Africa today, August 25 2026.

Mr. Fraser stated his outfit is looking this way, because of the uncertainty and delays on taking decision on issue, adding that “this is why this option is being considered”.

“We remain hopeful that the engagement that we are having and will be sensible consideration of our application”, the Group CEO of Gold Fields added.

He also stated that after working in the Ghana mining sector for more than 20 years, “we believe that we are in a better place to deliver value to Ghanaians as well as operate it safely”.

The Group CEO of Gold Fields disclosed that this plan to alert their investors on the options available when it comes to the lease agreement for the Takwa mines in Ghana. 

Mr. Freser went ahead to state that Gold Fields is, however, hopeful to get to the level where this legal option may have to be exercise.

“What we are saying here is that this is consideration, so treat us fairly ,when it comes to our lease agreement” he stated.

The Group CEO continued that “This is the last option that we will pursue, but we needed to make it very ​clear to our shareholders that if required, we certainly would take those pathways in order to try and protect value”

Tarkwa Lease Renewal 

Speaking to Journalists via Teleconference from South African, Mr. Fraser also disclosed that in July this year, the mining firm formally submitted a commercial proposal to the Government of Ghana on the renewal of the Tarkwa Mining leases.

This, Mr. Fraser says was coming after it submitted an initial request  in November 2025 to the government.

Gold Fields says it is looking for a 25 years lease renewal of the Tarkwa mines as it targets fresh US$6 billion investment on deposits pegged at 7.4 million ounces.

The current mining lease for Tarkwa mines, expires in April 2027, and the Group CEO says an early decision on these issues will be appropriate.

The Government of Ghana on the other hand has maintained that it is open to discussions with Gold Fields, but has ruled out an automatic renewal of the lease.

Gold Fields said its proposal sought to boost local participation, expand community benefits and procurement opportunities, and increase the mine’s long-term economic contribution.

Gold Fields submitted a formal lease renewal application in November 2025 and is awaiting a government decision, it added.

The company said its financial strength, technical expertise and capacity to fund major reinvestment and mine-life-extension projects make it best placed to lead. Tarkwa through its next phase.

It added that continued operatorship would safeguard jobs, support local suppliers and sustain government revenues.

Tarkwa was Gold Fields' second-largest gold producer in the first half of 2026, behind Salares Norte in Chile, with its 192,000 ounces accounting for about 15% ​of the group's total output.

Xenophobic Attacks

The Group  CEO admitted that recent developments in south Africa in terms of xenophobic attacks, has affected current discussions with government of Ghana.

But the Chief Executive,was quick to add that as a mining firm it has moved to condemn the attacks, through other association and business interest groups that it is currently a member.

“I want to describe it as unfortunate, when it comes these xenophobic attacks” Mr. Freser added.    

Arbitration Hearing with E&P

On the arbitration hearing between Gold Fields and Engineers & Planners Company Limited, which an Accra High Court has ordered Gold Fields, to provide US$60 million bank guarantee, the Group Chief Executive, noted that it finds the ruling interesting and surprising.

He however says tha his outfit will study the ruling  stating that “we believe that everything has been paid to E&P when it comes to serves rendered”.

An Accra High Court has ordered Abosso Goldfields Limited which many of us refer to as Gold Fields to provide a US$60 million bank guarantee to secure any eventual arbitral award that may be made in favour of Engineers & Planners Company Limited, in a significant ruling arising from a mining-services dispute whose underlying claim exceeds US$100 million.

The  July 29, 2026 judgment, delivered by Justice Emmanuel Kofi Diaba of the High Court’s General Jurisdiction Court 5 in Accra, therefore turns on a simple question with major commercial consequences: what is an arbitration victory worth if, by the time it is obtained, there are insufficient assets against which to enforce it?

The dispute stems from a Mining Services Agreement between E&P and Goldf Fields in what is now known as the Damang Mine.

According to the court, the agreement was connected to a mining lease granted to Goldfields by the Government of Ghana.

That lease expired in April 2026 and was not renewed. E&P subsequently initiated arbitration proceedings at the Ghana Arbitration Centre against Gold Fields.

Before that arbitration could properly commence, however, E&P went to the High Court seeking security for any award that might ultimately be made in its favour. Its estimated arbitration claim is in excess of US$100 million.