Indigenous mining giant Engineers & Planners (E&P) has made a bold move in Ghana’s mining sector, acquiring Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd to take full ownership of the long-inactive Black Volta and Sankofa gold concessions in the Upper West Region.
This decisive transaction, officially registered with the Registrar of Companies and approved by the Minerals Commission, marks the end of nearly two decades of under-investment, protracted legal battles, and capital constraints that left the rich concessions dormant.
The timing of the acquisition is significant, coming as global gold prices soar above $3,000 per ounce and Ghana seeks new streams of mining revenue to support its IMF-backed fiscal consolidation agenda. E&P announced that it has secured the necessary funding to kick-start mine development and has pledged to settle all verified debts linked to the projects.
The company’s roadmap includes close collaboration with the Ghana Revenue Authority (GRA) to audit and confirm legacy loans recorded as project investments. E&P has committed to repaying genuine debts—subject to applicable taxes—to ensure strict fiscal compliance and protect state revenue. The secured funding will be swiftly deployed to begin mine construction and operations, signaling a new era for the concessions.
E&P emphasized that the acquisition is more than just a commercial venture; it is a national responsibility. The company has promised to stimulate local economies, generate employment, and contribute royalties and taxes to the state coffers. Established in 1997, Engineers & Planners is recognized as one of Africa’s leading mining and civil engineering firms. Its takeover of the Black Volta and Sankofa concessions is seen as a milestone in restoring Ghanaian ownership in an industry often dominated by foreign interests.
Chief Executive Officer Ibrahim Mahama hailed the acquisition as a turning point for Ghana’s mining landscape. “This is a proud moment for E&P and for Ghana. Our commitment is to ensure that these projects, which have been dormant for too long, finally deliver real value to our country and its people. We will work transparently with regulators and stakeholders to build mines that create shared prosperity,” he stated.
The Black Volta and Sankofa projects, originally granted in 1992, have remained undeveloped for more than thirty years. E&P’s intervention promises not only to activate these concessions but also to deliver broader benefits to host communities in the Upper West Region through infrastructure development and social investment.
With the acquisition finalized, Engineers & Planners is set to launch an intensive development programme that could set a new standard for Ghanaian-led mining enterprises—demonstrating that local companies can compete globally while putting national interests first.
Source: Apexnewsgh.com
