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 kept the concessions dormant.
With global gold prices trading above $3,000 per ounce, the move comes at a time when Ghana is seeking fresh mining revenue to support its IMF-backed fiscal consolidation programme.
E&P announced that it has secured funding to begin mine development and has committed to repaying verified debts associated with the projects.
The company outlined a structured plan that includes:
Working with the Ghana Revenue Authority (GRA) to audit and confirm loans previously recorded as project investments.
Repaying genuine debts subject to applicable taxes, to ensure fiscal compliance and safeguard state revenue.
Deploying secured funding to commence mine construction and operations within the shortest possible time.
E&P described the acquisition as both a commercial venture and a national duty, pledging to stimulate local economic activity, create jobs, and contribute royalties and taxes to the state.
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 represents a significant step 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 Ghana’s mining 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,” he said.
The Black Volta and Sankofa projects, first granted in 1992, have remained undeveloped for over three decades. E&P says its intervention will not only bring the concessions to life but also deliver wider benefits to host communities in the Upper West Region 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 able to compete on the global stage while prioritising national benefit.
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