IMANI Africa's Kofi Bentil says Gold Fields paid a fraction of the Tarkwa concession's worth under the 1990s lease that expires in April 2027.

Published 9 Nov 2026, 10:18 GMT

3 min read

IMANI Africa Vice-President Kofi Bentil and President John Dramani Mahama — Kofi Bentil (left) and President John Dramani Mahama

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Private legal practitioner and IMANI Africa Vice-President Kofi Bentil has urged President John Dramani Mahama not to renew Gold Fields Ghana's lease over the Tarkwa Gold Mine when it expires in April 2027.

Sharing an excerpt from the original 30-year mining lease signed under former President Jerry John Rawlings, Bentil claimed that the South African miner paid a consideration fee of only US$30,000 — an average of US$1,000 a year — for the concession.

"Here is a copy of the signed Lease between Ghana and Goldfields. Check clause 20. How much do you think they paid for the lease? $30,000…. That's not a mistake, they were given the mines for that petty sum of $30,000 as if it was a galamsey pit!!" Bentil wrote.

He argued that Gold Fields went on to generate roughly US$30 billion from the Tarkwa operation over three decades, even though the mine had already been built with public funds and was operating as a state gold mine before 1997.

"Under no circumstance must we repeat this mistake. CANCEL THE LEASE!!!" Bentil wrote, adding the hashtags `#IndigenizeOurMines` and `#GoldfieldsMustGo`.

The portion of Clause 20 shown in Bentil's post does not display the full payment text, nor does his US$30 billion estimate distinguish between gross revenue and profit, and any initial consideration fee is separate from statutory royalties, corporate taxes and dividends.

Gold Fields currently holds a 90 per cent stake in the Tarkwa Gold Mine, while the Government of Ghana holds a 10 per cent interest.

Advocates of local ownership point to the nearby Damang Gold Mine, where Ghanaian firm Engineers and Planners (E&P) expanded the workforce from 207 employees at its April 2026 takeover to 426 by September and raised monthly mining volumes from 1.4 million tonnes to 3 million tonnes.

Araba IncoomAraba Incoom writes on multiple topics with a vast knowledge across different sector. You can almost call me an AI, after all, my initials are Araba Incoom.

Mahama cautioned against repeating Rawlings-era mistake with Tarkwa Mine

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