A standoff is brewing in Ghana’s mining sector as Engineers & Planners (E&P) insists it has legally acquired Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd, claiming full ownership of the long-delayed Black Volta and Sankofa gold concessions in the Upper West Region.
The development follows Azumah Resources’ strong denial of any such transfer, warning that any unauthorised acquisition would amount to an expropriation of private property. The company cautioned that the move could expose Ghana to international arbitration and financial claims exceeding US$1 billion, while signalling its intent to escalate the matter to the International Court of Arbitration.
E&P’s legal representative, Bobby Banson, has dismissed Azumah’s claims as baseless. Speaking to Citi Business News, he said the transfer process had been fully completed and was backed by regulatory approval.
“As we speak, the sole shareholder of both projects is Engineers and Planners. That process has been completed at the Registrar General’s Department after the no objection letter was obtained from the Ministry of Lands and Natural Resources upon the recommendation of the Minerals Commission,” Banson stated.
He further questioned the authenticity of Azumah’s rebuttal, noting that the press release was not signed by any recognised officer of Azumah Resources Ghana Ltd.
“The company that signed the statement is a PR company based in London, and so it has no weight,” he added.
Amid the dispute, E&P has outlined a structured plan to kick-start development of the long-stalled concessions. The company pledged to:
- Work with the Ghana Revenue Authority (GRA) to audit and confirm loans previously recorded as project investments.
- Repay verified debts subject to applicable taxes to safeguard state revenue.
- Deploy secured funding to commence mine construction and operations within the shortest possible time.
E&P has described the acquisition as both a commercial venture and a “national duty”, promising to stimulate local economic activity, create jobs, and contribute royalties and taxes to the state.
The clash sets the stage for a potential international arbitration battle that could test Ghana’s investment climate at a time when the government is seeking to maximise revenues from the mining sector.
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