The battle over the $100 million Black Volta Gold Project has escalated, with Azumah Resources Ghana Ltd flatly rejecting Engineers & Planners’ (E&P) claim of a successful acquisition.
In an exclusive interview on ABC Prime News on July 8, John Mason, Head of Corporate Affairs at Azumah Resources Pty Ltd and spokesperson for Azumah shareholders, stated unequivocally: “Azumah does not have any valid contract with Engineers and Planners.”
His remarks directly challenge E&P’s narrative of a landmark Ghanaian-led takeover, describing the company’s assertions as legally and commercially baseless.
Azumah maintains that no sale has occurred, and E&P holds no shares, funding commitment, or formal development agreement regarding the Black Volta Gold Mine.
“E&P is not claiming acquisition for black volta project but they have raised financing,” he Mason said.
He added that “even though we don’t have any transaction or agreement with them, if they have the money, they can make an offer where the shareholder can consider …”
According to Mason, the only contribution from E&P has been a limited $4 million out of a once-proposed $250 million, a shortfall Azumah says raises significant doubts about E&P’s capacity to manage a project of national importance.
“This is about doing right by Ghana and Ghanaians,” Mason emphasized.
“The claims made by E&P in the press are not supported by law or by fact.”
E&P, in a statement released earlier on July 8, insisted it acquired Azumah Resources Ghana Ltd in October 2023 for $100 million—structured in two instalments of $50 million—and claimed to have funded the mine’s operations at $500,000 monthly since November 2023.
E&P accused Azumah of attempting to unilaterally terminate the agreement after one of its directors allegedly demanded a tripling of the purchase price due to rising global gold prices.
The matter ended up in court, and in June 2025, the High Court ruled Azumah’s termination move was invalid, a judgment E&P says solidifies its control.
But Azumah insists that ruling does not equate to a completed acquisition or ownership transfer.
The company says it is now moving forward with a Ghanaian-led, law-abiding development plan for the mine, backed by experienced international investors with a proven track record of developing over $10 billion in mining projects globally.
Azumah stresses its commitment to protecting Ghana’s mineral wealth from what it describes as opportunistic, underfunded claims.
The public spat now sets the stage for an intense legal and public relations showdown over control of the Black Volta Mine—one of Ghana’s most promising gold concessions.
With both companies digging in, the outcome could reshape conversations around foreign investment, local ownership, and legal clarity in Ghana’s mining sector.
By Ruth Sekyi
