E&P Rejects Azumah’s Denial, Asserts Control of Gold Concessions
Engineers & Planners (E&P) is maintaining that it has legitimately acquired Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd, giving it full control of the Black Volta and Sankofa gold concessions in the Upper West Region.
The claim comes in response to a statement by Azumah Resources denying any such transfer, warning that an unlawful takeover would amount to the expropriation of private property. Azumah further cautioned that Ghana could face international arbitration and potential financial claims of more than US$1 billion, and signaled its intention to escalate the dispute to the International Court of Arbitration.
In an interview with Citi Business News, E&P’s legal counsel, Bobby Banson, dismissed Azumah’s position, describing its statement as illegitimate.
“As we speak, the sole shareholders of both projects are Engineers & Planners. The process was completed at the Registrar General’s Department after a no-objection letter was obtained from the Ministry of Lands and Natural Resources on the recommendation of the Minerals Commission,” Banson said.
He also questioned the authenticity of Azumah’s denial, arguing that the release was issued on company letterhead but was not signed by any known officer of Azumah Resources Ghana Ltd. “The statement was signed instead by a PR firm in London, which has no authority in this matter,” he added.
E&P has outlined a plan to collaborate with the Ghana Revenue Authority (GRA) to audit and confirm loans previously booked as project investments, repay verified debts with applicable taxes, and ensure fiscal compliance while mobilising funding to begin mine construction. The company described the acquisition as both a commercial initiative and a national obligation, pledging to create jobs, spur local economic activity, and pay royalties and taxes to the state.
