The University of Mines and Technology has submitted a rental valuation report on Damang Gold Mine’s assets to Ghana’s Lands Ministry through the Minerals Commission. The report was presented on 29 October, according to a Ministry update published the following day.

Commissioned by the Minerals Commission, the assessment examined movable and immovable assets and their condition. Its purpose was to establish a basis for annual rent under a proposed 20-year operating lease and identify associated liabilities.

The review follows the mining lease’s return to the Government of Ghana and the operation’s subsequent transition to Damang Gold Mine Limited.

Industry perspective — editorial: Asset-condition assessments can help mining operators identify maintenance priorities and plan equipment and spare-parts requirements.