Rising Tensions Over Ghana’s Black Volta Gold Project: Are Engineers & Planners Making A Hostile Takeover Of Azumah Resources?

Recent developments surrounding Ghana’s promising Black Volta Gold Project have ignited a firestorm of speculation and concern within the country’s mining sector. While Azumah Resources Ghana Limited maintains unequivocally that it has not sold or is in the process of selling its valuable concession in the Upper West Region, reports suggest that Engineers & Planners (E&P), a prominent Ghanaian mining development firm, may be orchestrating a covert push to assume full control of the project.

The Black Volta Gold Project, situated in one of Ghana’s most promising untapped mineral zones, has long been regarded as a potential game-changer for local gold production. Azumah Resources Ghana Limited, the Australian mining company holding the concession, has repeatedly stated they are not selling the project, emphasizing their ongoing rights over the exploration and extraction activities.

However, recent developments have cast doubt on these assertions. A significant financial agreement inked between E&P and the ECOWAS Bank for Investment and Development (EBID) has stirred controversy, fueling fears of a strategic takeover.

According to sources close to the negotiations, a $100 million acquisition facility was recently signed between E&P and EBID. Speaking to the media during the signing ceremony, Bobby Banson, legal counsel for Engineers & Planners, confirmed that the funds are intended to settle Azumah Resources’ claims, effectively positioning E&P to gain full ownership rights over the Black Volta concession.

Banson explained, “The agreement between E&P and EBID stipulates that E&P can now proceed to the concession with the funds already secured, effectively making them the owners of the project, despite Azumah’s assertions to the contrary.” He added, “This agreement, which started about 18 months ago, signals that the money has been earned and that the dispute has been resolved through mutual understanding facilitated by the financial deal.”

The development raises critical questions about the legality and transparency of the process. Azumah Resources Ghana Limited issued a statement on July 4th vehemently denying any sale or transfer of their Black Volta Gold Project, asserting, “We have neither sold nor are in the process of selling the project in whole or part to any party, including Engineers & Planners.”

Despite this, the financial backing for the supposed acquisition appears to be in place, with the ECOWAS Bank projecting an additional $30 million for the project in December 2025, further complicating the narrative.

Experts and Observers are now questioning whether E&P, with the backing of the Ghanaian government and regional financial institutions, is attempting a forceful takeover of the project under the guise of legal and financial arrangements. The discrepancy between Azumah’s public stance and the claims of E&P’s legal representatives suggests a potentially contentious power struggle.

Legal experts and industry stakeholders warn that such developments could undermine Ghana’s mining sovereignty and set a dangerous precedent if foreign or local entities bypass proper legal channels to acquire mineral rights.

This unfolding scenario has significant implications for Ghana’s mining industry, especially as the Black Volta Gold Project is poised to become the country’s first large-scale mining venture in the north, once fully operational.

As Ghana navigates this complex situation, questions remain about transparency, legal due process, and the future ownership of its mineral wealth. The government and relevant authorities must now intervene to clarify the status of the project and ensure that the country’s mineral resources are managed in accordance with national laws and interests.

While Azumah Resources Ghana Limited continues to assert that they have not sold their valuable concession, the recent financial and legal developments suggest that a power struggle may be underway—one that could reshape Ghana’s mining landscape. As the story unfolds, Info Radio and the public alike will be watching closely to see whether this is a legitimate transaction or a forceful maneuver cloaked in financial arrangements.