Engineers & Planners Company Ltd (E&P) has acquired ownership of the shares of Azumah Resources Ghana Ltd and Upwest Resources Ltd, owners of the Black Volta and Sankofa Gold Projects.
According to a statement issued by Azumah Resources on Monday, September 8, 2025, the transfer of ownership follows extensive negotiations and legal proceedings that highlighted the complexities of international investment in Ghana’s mining sector.
According to the statement, the successful transfer will enable Engineers and Planners to embark on a new phase of project development, led by a “Ghanaian operator with proven technical and financial capacity.”
Established in 2014 under leases granted by the Government of Ghana, the Black Volta and Sankofa Projects hold significant gold production potential but have remained undeveloped due to challenges in raising sufficient capital.
Following the transfer, Azumah Resources has expressed optimism that the assets that have lied idle over the years will now become useful for the benefit of the state.
“This transition is therefore a watershed moment, ensuring that the assets will finally be advanced toward production for the benefit of Ghana’s economy and the local communities of the Upper West Region.
“The companies are confident that E&P, as one of Africa’s leading mining and civil engineering firms with a track record dating back to 1997, is well positioned to bring the projects into production,” the statement added.
Azumah Resources Ghana and Upwest concluded that the development is a “major new chapter” in Ghana’s mining industry.
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