Damang Mine Drama: Heath Goldfields Flops Hard, Misses 80% Cut-Off

Heath Goldfields Limited couldn’t make the cut in the race for the Damang Gold Mine lease after failing to hit the required 80% technical score. A report submitted by the Tender Committee to the Ministry of Lands and Natural Resources on Tuesday, April 7, 2026, confirmed the company fell short and got knocked out before even reaching the financial stage. Meanwhile, Engineers and Planners Limited came fully prepared and delivered on all fronts. The company didn’t just meet expectations — it went above them, showing proof of access to a massive $505 million financing package from ABSA Bank and Stanbic Bank, beating the $500 million minimum requirement. With technical evaluation carrying the most weight at 80% and financial at 20%, Engineers and Planners pulled a strong 76.32 in technicals and 16.83 in financials, landing them an impressive overall score of 93.15%. Based on Regulation 263 of the Minerals and Mining (Licensing Regulations), 2012 (LI 2176), the Tender Committee officially named Engineers and Planners Limited as the winning bidder and pushed for ministerial approval. The Damang mine, a major gold-producing asset in Ghana, has been under Gold Fields Ghana Limited since 1993, with a 90% stake, while the government held a 10% free carried interest. Now, with this new deal, all eyes are on Engineers and Planners to bring fresh investment and tighter control to the operation.