There is a myth and a maze surrounding the true ownership of Ghana’s portion of the Black Volta Gold Project in the Upper West Region, a situation that urgently needs unraveling.

Reports have surfaced regarding a potential takeover of the project from Azumah Resources Limited, an Australian-owned company. This has introduced a new twist and stirred controversy within the region’s mining sector, leaving many, especially those with vested interests, in a state of limbo.

To the average Upper Westerner, Azumah Resources Ghana Limited is still perceived as being in full control of the Black Volta Gold Project. The general understanding is that the company has neither sold nor is in the process of selling any of its valuable concessions in the region.

However, speculation is rife that Engineers and Planners (E&P), a prominent Ghanaian mining company, may soon take over and assume total control of the project.

A Highly Prized Project

The Black Volta Gold Project, located within the Upper West Region, is believed to hold one of Ghana’s richest untapped mineral deposits. The project is seen as a potential catalyst for regional and national economic transformation if gold production begins in full swing.

As it stands, Azumah Resources Ghana Limited maintains that it holds all legal rights to exploration and extraction activities. The company has publicly stated that it has not sold, nor is it in talks to sell, its concessions. This position has further deepened the confusion and skepticism surrounding the issue.

Financial Moves Suggest Otherwise

Despite Azumah’s public statements, developments on the ground suggest otherwise. A $100 million acquisition facility agreement has reportedly been signed between Engineers and Planners and the ECOWAS Bank for Investment and Development (EBID). This deal is widely interpreted as a strategic takeover of the Black Volta Gold Project by Engineers and Planners.

Reliable sources close to the negotiations confirm that the funds will be used to pay off Azumah Resources Limited, effectively transferring ownership of the concession to Engineers and Planners.

At the signing ceremony, Mr. Bobby Banson, legal counsel for Engineers and Planners, stated:

“The agreement between Engineers and Planners and EBID stipulates that Engineers and Planners can now proceed to the concession with the funds already secured, effectively making them the owners of the project, despite Azumah’s assertions to the contrary. This agreement, which started about 18 months ago, signals that the money has been earned and that the dispute has been resolved through mutual understanding facilitated by the financial deal.”

Conflicting Claims

The situation is further muddled by conflicting public statements. On July 4, 2025, Azumah Resources Ghana Limited released a statement strongly refuting any claims of sale or transfer of ownership of the Black Volta Gold Project. They stated:

“We have neither sold nor are in the process of selling the project in whole or in part to any party, including Engineers and Planners.”

Nevertheless, the financial deal, with additional reports of a $30 million project financing package expected by December 2025, strongly points to a pending or completed takeover. This has fueled widespread belief that Engineers and Planners are now the effective new custodians of the concession.

Political and Legal Overtones

Industry observers question whether the takeover is being backed by the Ghanaian government and certain regional financial institutions. Some see the arrangement as a forceful takeover disguised through legal and financial maneuvers.

This open disagreement between Azumah and Engineers and Planners signals a power struggle between two major players in Ghana’s mining landscape. As the Black Volta Gold Project is widely tipped to become Ghana’s first large-scale mining venture in the northern half of the country, the stakes are extremely high.

Community Voices and Local Sentiment

Local sentiment appears to favor the takeover by Engineers and Planners. Since Azumah Resources Limited began exploration in 1992, many in the Upper West Region feel they have seen no tangible benefits, only land loss and environmental degradation.

Suntaa Dominic, a resident of Nadowli, stated: “Since 1992 when Azumah Resources Limited came to the district, there is nothing to show except people losing their livelihoods when their farmlands were taken over.”

Similarly, Esther Tietaa, a farmer from Dapuori, said: “It’s good news that an indigenous Ghanaian company like Engineers and Planners is coming on board. We pray their approach will be different and that they will give back to the people of the Upper West Region.”

Conclusion

While Azumah Resources insists it remains the rightful holder of the Black Volta Gold Project, recent financial and legal arrangements strongly point to an imminent or completed strategic takeover by Engineers and Planners. As the dust settles, clarity is needed, preferably through official communication from Ghana’s Minerals Commission or the Ministry of Lands and Natural Resources.

What remains clear is that the people of the Upper West Region are yearning for a change in how mining operations are conducted, and they see a Ghanaian company as the bearer of that long-awaited hope.

By Abdul Ganiu Fasasu