Indigenous mining firm Engineers & Planners (E&P) has acquired Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd, taking full control of the long-stalled Black Volta and Sankofa gold concessions in the Upper West Region.
The transaction, registered with the Registrar of Companies and approved by the Minerals Commission, ends nearly two decades of under-investment, legal disputes, and capital shortfalls that left the concessions dormant.
With global gold prices trading above $3,000 per ounce, the acquisition comes as Ghana looks to boost mining revenue to support its IMF-backed fiscal consolidation programme.
E&P confirmed that it has secured funding to begin mine development and pledged to repay verified debts associated with the concessions. Its structured plan includes:
- Collaborating with the Ghana Revenue Authority (GRA) to audit and validate past loans recorded as project investments.
- Repaying genuine debts subject to applicable taxes, ensuring fiscal compliance and safeguarding state revenue.
- Deploying secured funding to commence mine construction and operations as quickly as possible.
Founded in 1997, Engineers & Planners is today recognised as one of Africa’s leading mining and civil engineering companies. Its takeover of the Black Volta and Sankofa concessions is being hailed as a significant milestone in reasserting Ghanaian ownership in a sector long dominated by foreign firms.
Chief Executive Officer Ibrahim Mahama described the acquisition as a turning point for the industry:
“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.”
The Black Volta and Sankofa concessions, first granted in 1992, have remained undeveloped for over three decades. E&P says its intervention will not only revive the projects but also deliver wider benefits to host communities through infrastructure and social investments.
With the acquisition now complete, E&P is set to launch an intensive development programme that could set a precedent for Ghanaian-led mining ventures competing globally while prioritising national interest.
📌 Source: CitiNews
Please download our HOTDIGITAL ONLINE APP and follow HotDigital Online on our social media platforms to stay updated on our upcoming initiatives.
#HotDigitalHealthAwareness #CommunityHealth #GhanaNursesAssociationUK #HealthMatters #HotDigitalOnline #StrongerTogether
