Azumah Resources has confirmed it is currently engaged in confidential, good-faith negotiations with Engineers & Planners (E&P), aimed at resolving the ongoing impasse between the two entities regarding the Black Volta Gold Project.

In a statement released by the company and sighted by GhanaWeb Business on July 13, 2025, Azumah Resources said the discussions are taking place “within the framework of applicable laws, commercial norms, and in consultation with the appropriate regulatory and ministerial bodies.”

The company emphasised that the negotiations are guided by a shared objective which is aimed at achieving a constructive and mutually acceptable resolution to the issues at hand.

“In accordance with the directive of the Honorable Minister responsible for the sector, and in a bid to safeguard the sanctity of the ongoing process, we respectfully call upon all media houses, analysts, commentators, and third parties to exercise discretion and refrain from speculative or misleading reportage that could potentially prejudice or distort the dialogue underway,” the statement read.

Azumah Resources further urged the media and public to rely only on official communication.

“The public and media [are advised] to rely solely on authorized spokespersons for any statements or official positions concerning Azumah Resources,” it added.

The company also addressed recent reports involving the ECOWAS Bank for Investment and Development (EBID), describing references to the bank as “unwarranted and inaccurate.”

“For the avoidance of doubt, representatives of Azumah Resources and E&P visited EBID’s offices in Lomé, Togo, in 2023 to assess the Bank’s capacity and willingness to support the transaction,” the statement clarified.

“EBID expressed indicative interest, contingent on its internal credit appraisal and Board approval. Any extrapolations beyond this context are both inappropriate and unauthorised,” it added.

Azumah Resources reaffirmed its commitment to resolving the matter professionally and transparently.

“We remain fully aligned with the broader interest of the Republic of Ghana and all stakeholders involved,” the company stated.

Azumah Resources reiterated that all updates and developments will be shared through authorised channels in due course.

The statement comes in the wake of growing public and media interest in the dispute, which has drawn attention from stakeholders across the extractive sector and beyond.

The Black Volta Gold Project, once operational, is expected to produce an average of 163,000 ounces of gold per year, about five tonnes annually, during its first five years. This would represent roughly 3% of Ghana’s national gold output, which rose to 4.8 million ounces, or 150 tonnes, in 2024.



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