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Minister Buah lauded for resolving Azumah–E&P dispute, boosting investor confidence
In a recent press release by Azumah Resources Ghana Limited, the company expressed its gratitude to the Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, for his instrumental role in resolving a longstanding dispute between the company and Engineers & Planners Co. Ltd. This resolution has significantly bolstered investor confidence in Ghana’s mining sector, marking a positive development for the industry.
The press statement, issued by John Mason on behalf of Azumah Shareholders, confirmed that Engineers & Planners Co. Ltd. had graciously agreed to withdraw its legal claim against Azumah Ghana, paving the way for the construction of the Black Volta Gold Mine. This project is poised to deliver substantial economic benefits to Ghana and its people.
Azumah Resources Ghana Limited acknowledged the unwavering support and leadership of the Government of Ghana, particularly Minister Buah and the Minerals Commission, in facilitating this milestone achievement. The company highlighted that such decisive action from the Minister underscores Ghana’s appeal as a stable and attractive mining destination.
As part of the restructuring following the dispute resolution, Professor Prince Ofori Amponsah has been appointed to the Board of Azumah Ghana, replacing Mr. James Wallbank as Chairman. This transition signifies a shift towards full Ghanaian leadership within the company, with all employees being of Ghanaian descent.
Professor Amponsah remarked, “Azumah’s transformation into the first truly Ghanaian gold mining company is a testament to our commitment to local expertise and sustainable development. We are dedicated to advancing the Black Volta project swiftly, ensuring that its benefits directly impact the community of Wa through job creation, local contracts, and community empowerment.”
The press release further disclosed that Azumah’s international shareholders have agreed to enhance local participation in compliance with Ghanaian regulations, aligning with the country’s objectives of maximizing the project’s socio-economic impact.
This collaborative effort between the Government of Ghana, local stakeholders, and mining companies exemplifies a successful partnership that prioritizes the interests of Ghana and its citizens. The Black Volta project is expected to attract over US$100 million in investment to the Upper West Region, generating employment opportunities and fostering sustainable development.
