UMaT presents Damang Gold Mine rental valuation report to Lands Minister

The University of Mines and Technology (UMaT), based in Tarkwa, has officially submitted a comprehensive rental valuation report on the fixed assets of Damang Gold Mine Limited. This technical document was presented to the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, marking a significant step in the management of the state's mining infrastructure. The report was formally channeled through the Minerals Commission, which serves as the primary regulatory body for the sector.

The primary objective of the UMaT valuation is to determine the appropriate annual rent for a proposed 20-year operating lease for the Damang Gold Mine. By utilizing the specialized expertise of the university, the government seeks to establish a fair and transparent financial framework for the long-term use of the mine's fixed assets. This assessment is crucial for ensuring that the state receives equitable value for its resources while providing the mine's operators with the necessary legal and financial certainty for their long-term plans.

This collaboration highlights the government's commitment to involving local academic and technical institutions in the management of Ghana's natural resources. Once the rental figures are finalized based on the university's findings, the 20-year lease agreement is expected to provide a stable foundation for the mine's continued contribution to the national economy. This move reflects broader efforts by the administration to optimize revenue from the mining sector through professional and independent valuation processes.