E & P acquires Black Volta, Sankofa gold projects

Engineers & Planners Company Ltd (E&P) has acquired full ownership of Azumah Resources Ghana Ltd and Upwest Resources Ltd, the operators of the Black Volta and Sankofa Gold Projects in the Upper West Region.

The transaction, which has been formally registered at the Registrar of Companies, marks what Azumah Resources described as “a decisive step in ensuring the long-term development of these critical mining assets.”

The deal follows years of negotiations and legal proceedings that highlighted the challenges of international investment in Ghana’s mining sector. With the transfer of equity completed, the projects will now be steered by a Ghanaian-owned operator with what the outgoing owners called “proven technical and financial capacity”.

Established in 2014 under leases granted by the Government of Ghana, the Black Volta and Sankofa concessions have significant potential for gold production but have remained dormant due to difficulties in securing sufficient capital. Azumah noted that “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 expressed gratitude to government institutions, regulators, local stakeholders, and their workforce for standing by the projects through prolonged delays.

With the handover complete, Azumah and Upwest said the responsibility now rests with Engineers & Planners. “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 said.

They further stressed that the successful transfer “demonstrates Ghana’s continuing attractiveness as a mining investment destination and the importance of aligning projects with operators who possess both the technical know-how and the financial strength to deliver.”