Gold Fields' Damang lease extension rejected; operations cease

Gold Fields Limited (JSE:GFI) announced that the Minerals Commission of Ghana rejected the company's application to extend its Damang Main Mining Lease, submitted in December 2024 through its subsidiary, Abosso Goldfields Limited. As a result, Gold Fields has been instructed to cease operations and vacate the lease area by April 18, 2025. The company is now preparing to safely and responsibly wind down operations, ensuring the safety and security of personnel and high-risk activities. Gold Fields is actively engaging with the Ghanaian government to seek a favorable outcome for all stakeholders. The company emphasized that these developments do not affect ongoing operations at its Tarkwa mine. Gold Fields committed to updating the market on any significant developments related to the Damang mining lease situation.