Government has issued a one-week ultimatum to Engineers & Planners (E&P) and Azumah Resources Ghana Limited, to resolve ongoing dispute on the black Volta ming deal or face a state-imposed decision deemed to be in the national interest.
This intervention follows allegations by Bright Simons, Vice President of IMANI Ghana, who claimed that E&P’s $100 million acquisition of Azumah’s gold concession in the Upper West Region was marred by political interference and internal shareholder disagreements from the Australian side.
E&P, in a statement dated Tuesday, July 8, firmly rejected these claims, emphasizing that the transaction was strictly commercial and executed without political influence.
The company revealed that the agreement was signed on October 9, 2023, well before the December 2024 general elections.
According to the company, it took over the mine’s operations immediately after the contract was signed and has since injected approximately $500,000 monthly into the project.
The company also disclosed that it secured a $100 million loan from the ECOWAS Bank for Investment and Development (EBID), formalized on July 7, 2025.
The dispute stems from a later demand by a director of Azumah Resources for a higher purchase price, despite the initial terms of the agreement having been upheld by the High Court in June 2025.
E&P further asserted that all relevant regulatory approvals were duly obtained, including a No Objection Letter from the Minerals Commission. The company has indicated plans to commence production within 36 months.
In a separate statement issued on Thursday, July 10, the Ministry of Lands and Natural Resources issued a stern directive, urging both companies to resolve their differences within seven days.
The sector Minister, Emmanuel Armah-Kofi Buah warned that failure to reach an amicable resolution would compel the government to intervene in the best interest of the country.
“In light of the circumstances, I have decided to grant the parties a final period of seven (7) days within which to resolve the matter amicably. Should this period elapse without a mutually agreed resolution, a decision shall be taken in the best interest of the country,” Mr. Buah noted.
The Minerals Commission has been tasked with facilitating and supporting discussions between the two entities to ensure the timely start of the project.
