Ibrahim Mahama and John Mason
The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has stepped in to calm tensions between Engineers & Planners (E&P) and Azumah Resources Ghana Limited, directing both parties to resolve their ongoing dispute within seven days or face government intervention.
In a formal letter dated July 10, 2025 and addressed to the leadership of both companies, the minister urged both parties to “resolve the matter amicably” within seven days. He warned that if no agreement is reached within that period, the government would intervene “in the best interest of the country.”
“I strongly urge all parties to refrain from addressing this matter through the media and instead focus on constructive dialogue and responsible engagement,” the minister stated.
To that end, the Minerals Commission has been tasked to support and facilitate negotiations between the two parties to ensure the timely commencement of the gold project, which has been mired in controversy for nearly a year.
The directive comes as tensions between the two companies continue to escalate over the acquisition of Azumah Resources Ghana Limited. E&P claims it lawfully acquired the company for $100 million in a deal finalised on October 9, 2023. However, Azumah Resources disputes the terms of the agreement and has accused E&P of inflating the sale price, failing to deliver agreed funding, and engaging in misinformation.
Azumah Statement
In a press release issued on July 8, 2025, Azumah Resources expressed gratitude to the government for its longstanding commitment to the rule of law, saying: “We are confident that this Government will continue in that stead, ensuring investors have confidence when investing in Ghana and ensuring that they are not subject to arbitrary and unfair treatment.”
Azumah’s Spokesperson, John Mason, took a firm stance on the company’s vision for the Black Volta project, insisting that the project must be led by capable and credible partners.
“Azumah Resources is committed to ensuring this project benefits Ghanaians, led by Ghanaians, with partners who are willing and able to build with us,” Mr. Mason said and added, “This is about doing right by Ghana and Ghanaians.”
Mr. Mason criticised E&P’s performance, claiming the company had promised to provide over $250 million in funding but had delivered only $4 million to date. He noted that Azumah had since secured backing from international mining investors with a track record of developing over $10 billion in mining projects globally.
“We remain focused on lawful development, on transparency, and on building Ghana’s future,” Mr. Mason added.
The Azumah Project Director, Rob Cicchini, echoed these sentiments, warning that entrusting the project to E&P without demonstrated funding capacity could harm Ghana’s economy.
“A sale to E&P, without a demonstrated ability to fund the full development of the Black Volta Gold Project, would not be in Ghana’s national interest. Without that funding, Ghana would suffer. Local communities would suffer. Jobs would be lost,” he said.
Azumah also emphasised that E&P “has yet to provide any formal offer to Azumah either to assist in funding the Black Volta Mine or investing in Azumah,” and does not currently hold any shares in the company.
E&P Response
In response, E&P issued its own statement, defending the acquisition and dismissing Azumah’s claims as “misleading and false.” The company insists that it lawfully entered into a $100 million purchase agreement with Azumah’s Australian shareholders on October 9, 2023, and that all key actions, including signing and initial financing, occurred before Ghana’s 2024 elections.
“Let the record show, the acquisition contract was signed in October 2023… Claims that this is a post-election arrangement or politically motivated are completely false,” the E&P’s statement said.
The company revealed that it began funding operations in November 2023, injecting about $500,000 monthly. It accused Azumah of attempting to raise the project’s price to $300 million in August 2024 amid rising global gold prices – a demand E&P rejected before pursuing arbitration and legal remedies.
The statement indicated that in June 2025, the High Court ruled in favour of E&P, upholding the original contract and rejecting Azumah’s attempt to terminate the deal.
A Daily Guide Report