Government and Gold Fields have reached an agreement on a transitional plan for Damang mine, the presidency said on Wednesday.
Last week, Ghana assumed operational control of the mine after it rejected the South African company's application to renew its lease, breaking a tradition of automatically renewing licenses.
The presidency said in a statement that a new 12-month mining lease will be issued to a Gold Fields' subsidiary pending parliamentary ratification in May.
During the transition period, Gold Fields will resume open-pit mining and conduct feasibility studies to establish Damang's reserves and mine life, the presidency said in a statement.
