Azuma and E&P mining companies have reached 'very conclusive agreements' in dispute - Lands Minister at press conference
The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has said the dispute between Azuma Resources and Engineers and Planners (E&P) mining companies has been resolved, following his directive.
Speaking at a press conference in Accra on Wednesday [July 23, 2024] dubbed the Government Accountability Series, Mr Buah stated that the two firms had reached what he described as “very conclusive agreements” following his directive in a letter dated July 10, 2025.
“In fact, I received a letter from Azuma Resources informing me that they have reached very conclusive agreements with E&P,” Mr Buah said. He added that the instruction issued to both companies had achieved its intended outcome.
The dispute between Azuma Resources and Engineers and Planners (E&P), had stalled the development of the Black Volta Gold Project in the Upper West Region.
The project, valued at around $100 million and backed by the ECOWAS Bank for Investment and Development (EBID), was expected to become Ghana’s first large-scale, wholly indigenous gold mining operation.
The impasse escalated into legal proceedings before the International Chamber of Commerce in London, with both parties trading claims exceeding $100 million. E&P accused Azuma of breaching their 2023 agreement and abandoning its financial obligations, while Azuma argued that E&P failed to raise capital, initiate construction contracts, or commence operations.
Mr Buah explained that Ghana holds a 10 percent carried interest in the project, and that the dispute had deprived the country of revenue, jobs, and royalties.
“Ghana is a shareholder in that enterprise. Any delay in continuing the exploitation of those resources affects the people of Ghana directly,” he told journalists.
He justified his action by pointing to the state’s vested interest in the project and said the minister’s authority in such matters is clearly provided for in law.
Although details of the settlement between the two companies was not shared by the minister, he, however, said the resolution demonstrates the ministry’s role in protecting national interest in extractive projects where the state has a stake.
According to Mr Buah, this includes reforms to licensing procedures, the establishment of cooperative mining schemes, and initiatives to address illegal mining through enforcement and technology.