The Ministry of Lands and Natural Resources has issued a seven-day ultimatum to Azumah Resources Pty Ltd and Engineers & Planners (E&P) to resolve their dispute over the $100 million Black Volta Gold Project.
In a formal statement released today, the Ministry said it is allowing the parties a final window to amicably settle the matter or face a government-imposed decision.
“In light of the circumstances, I have decided to grant the parties a final period of seven days within which to resolve the matter amicably. Should this period lapse without mutually agreed resolution, a decision will be taken in the best interest of the country,” the statement read.
The dispute escalated after Azumah publicly rejected claims by E&P that it had acquired the mine in a $100 million deal.
Read also: Azumah to E&P: You want Black Volta, make a real offer
Speaking on ABC Prime News on July 8, Azumah’s Head of Corporate Affairs, John Mason, clarified that there is no existing agreement with E&P.
“We are in the process of selling it, so if they are interested, they can make an offer… But as at now, we don’t have any agreement with E&P,” Mason stated.
He added that a previous agreement was terminated, prompting E&P to initiate arbitration proceedings at the International Chamber of Commerce.
E&P, however, insists it legally took over Azumah in October 2023 through a two-tranche payment deal.
The company claims it began funding operations in November and appointed two board members by January 2024, citing Azumah’s financial challenges, including over $5 million in debts to state institutions.
But Azumah has pushed back, describing E&P’s ownership claims as “unsupported by law or fact,” and alleging that only $4 million has been committed so far—far below E&P’s proposed $250 million investment.
As both sides entrench their positions, the future of the Black Volta Gold Project hangs in the balance.
Azumah says it is now backed by experienced global investors with a $10 billion mining portfolio, reinforcing its intent to retain control and bring the mine to full-scale production.
By Ruth Sekyi
