Azumah Denies E&P Takeover, Rekindling Dispute Over Black Volta and Sankofa Projects
The long-running dispute over the ownership of the Black Volta and Sankofa Gold Projects has resurfaced, with Azumah Resources Ghana Limited flatly denying Engineers & Planners’ (E&P) recent claim that it had completed a takeover of the concessions.
E&P last week announced that it had acquired Azumah Ghana and Upwest Resources Ghana through a share transfer agreement approved by the Minerals Commission, declaring that the once-dormant concessions were now under its full ownership. The company presented the deal as a breakthrough that resolved years of uncertainty and paved the way for a Ghanaian-led mine development, promising over US$100 million in investment, 1,000 construction jobs, and 420 permanent roles.
However, in a sharp rebuttal, Azumah Ghana described E&P’s announcement as “false and without legal basis.” It stressed that no shares had been transferred and that it remains the lawful owner and operator of the concessions.
“This is false information designed to confuse the public,” said Prof. Prince Amponsah, Chairman of Azumah Ghana. “Only last week E&P abandoned its claims against us, confirming what the courts and contracts already show — that Azumah Ghana is the rightful owner. Our focus is on moving rapidly into development and delivering over US$100 million of investment and thousands of jobs for the people of the Upper West Region.”
The denial comes at a sensitive moment. Just days earlier, the Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, was praised for resolving the Azumah–E&P dispute, assuring investors at the Africa Down Under Conference in Australia that Ghana offered stability in mining governance. Azumah’s latest statement, however, suggests the dispute is far from over, raising concerns about investor confidence and regulatory clarity.
Azumah warned that any attempt to recognize E&P’s claim would amount to expropriation, potentially exposing Ghana to compensation claims exceeding US$1 billion under international law. The company also said it would escalate the matter to the International Court of Arbitration to protect its rights and those of its shareholders.
The Black Volta and Sankofa projects have remained undeveloped since the early 1990s, despite their potential to contribute significantly to Ghana’s economy through royalties, taxes, and jobs. For communities in the Upper West Region, the projects are seen as a lifeline for development and employment.
