Engineers & Planners (E&P) has dismissed claims of political interference in its $100 million acquisition of the Azumah Resources gold concession in the Upper West Region.
This comes after the Vice President of IMANI Ghana, Bright Simons, alleged that the agreement, secured with the ECOWAS Bank for Investment and Development (EBID), was influenced by political actors and riddled with shareholder disagreements on the Australian side.
However, in a statement dated Tuesday, July 8, the company rejected the claims, clarifying that the deal was signed on October 9, 2023.
It stressed that the transaction was purely commercial and finalized months before the December 2024 elections.
E&P stated that it took over operations immediately after the agreement and has since invested \$500,000 monthly into the project. It also secured a \$100 million loan from EBID, which was formalized on July 7, 2025.
“Per the agreement, E&P immediately took control of the project and funded the operations of the mine at an average of US$500,000.00 monthly from November 2023 to date,” the statement indicated.
The company is currently involved in a legal dispute with Azumah Resources, whose director later demanded a higher purchase price. However, the High Court in June 2025 upheld the original contract and dismissed the attempted termination.
E\&P emphasized that all regulatory approvals were obtained, including a No Objection Letter from the Minerals Commission, and said it plans to begin production within 36 months.
“This is not politics. This is a pure commercial transaction on an arm’s length basis,” the statement added.
Find below the statement
