Azumah Resources reaffirms commitment to Ghana amid dispute with Engineers & Planners
Azumah Resources Ghana Limited has reaffirmed its commitment to developing the Black Volta Gold Mine in the Upper West Region and expressed confidence in Ghana’s legal and regulatory framework, amid an ongoing dispute with Engineers & Planners Company Limited (E&P).
In a press release issued on Tuesday, the company thanked the Government of Ghana for upholding the rule of law and investor confidence, and stated its determination to pursue the mine’s development in partnership with Ghanaian stakeholders and international investors.
“Azumah Resources is committed to ensuring this project benefits Ghanaians, led by Ghanaians, with partners who are willing and able to build with us,” said John Mason, Spokesperson for Azumah Resources. “We have a duty to protect Ghana’s resources for the benefit of all. This is about doing right by Ghana and Ghanaians.”
Mr Mason criticised E&P’s recent claims in the media, describing them as “unsupported by law or fact”. He disclosed that while E&P had initially proposed funding of over $250 million, only $4 million had actually been provided. “We are fortunate to have secured the financial support of international investors who have already developed more than $10 billion worth of mines globally. They will support the construction of this mine,” he stated.
Azumah said it would continue to seek investment from reputable, law-abiding Ghanaian companies and investors, while maintaining its focus on “lawful development, transparency, and building Ghana’s future”.
Rob Cicchini, Project Director at Azumah, underscored the importance of proven capability in project execution. “The future of this project should be in the hands of those who can deliver — not those who cannot,” he said. “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.”
Mr Cicchini warned that handing the project to a company lacking the required capital would harm local communities and stall economic growth. “Even if E&P could raise the funds to acquire the project, it has already demonstrated — over several years — that it does not have sufficient resources to fund the development. Without that funding, Ghana would suffer. Local communities would suffer. Jobs would be lost,” he said.
The company added that E&P had not made any formal offer to invest in Azumah or fund the Black Volta project and currently holds no shares in Azumah.
Azumah expressed concern over what it described as “misleading public statements” by E&P, stating that such conduct risks damaging Ghana’s international image as a credible mining destination. “These statements are visible to mining companies around the world and severely impact upon their international standing as a Ghanaian company,” the statement noted.
While remaining open to receiving a formal funding proposal from E&P, Azumah cautioned that it would consider the company’s public conduct in evaluating any future engagements.
Addressing recent public events organised by E&P, Azumah called on regulators, financial institutions, investors, and the Ghanaian public to “disregard this week’s staged event and any related claims”, insisting that the dispute should be resolved through international arbitration and not through the media.
Azumah further stated that it reserves all legal rights in the ongoing arbitration and is prepared to pursue every available remedy to protect its interests and the future of the Black Volta Gold Project.
“We remain fully available to our partners, regulators, and the public to provide accurate information,” the statement concluded.
Read the entire statement below;