The Ghana Chamber of Mines has appealed for restraint and transparency as a fresh ownership dispute erupts between Azumah Resources Ghana Limited and Engineers & Planners (E&P) over the Black Volta and Sankofa gold concessions in the Upper West Region.
The Chamber’s Chief Operating Officer, Ahmed Nantogmah, cautioned that the escalating row risks undermining investor confidence in Ghana’s mining sector if not addressed within established legal frameworks.
“We want cool heads to prevail. The industry must grow in a way that is beneficial to everybody. Disputes of this nature should be resolved transparently and within the laws of Ghana.”
Mr. Ahmed Nantogmah, Chief Operating Officer of the Chamber of Mines
His remarks followed a strongly worded statement from Azumah Resources Ghana Limited, which denied recent reports suggesting that the company had been acquired by Engineers & Planners, the mining and construction firm founded by Ghanaian businessman Ibrahim Mahama.
Azumah dismissed the reports as “false and without any legal basis,” insisting that it remains the legitimate owner of the concessions and has not transferred its assets to any third party.
Prof. Prince Amponsah, Chairman of Azumah Ghana, accused E&P of deliberately spreading “false information designed to confuse,” and confirmed that Azumah would take the matter to the International Court of Arbitration to defend its ownership rights.
The row deepens long-standing tensions between the two companies over the future of the concessions, which have remained largely dormant for decades due to financing challenges and legal entanglements.
E&P, one of Ghana’s most prominent indigenous mining contractors, has in recent months expressed interest in expanding from mining services into direct ownership of mining assets.
Reports earlier suggested that the firm had acquired Azumah Resources Ghana Ltd and its sister company, Upwest Resources Ghana Ltd, in a transaction registered with the Registrar of Companies and approved by the Minerals Commission.
Azumah rejected those claims outright, describing them as premature and misleading. It maintains that it continues to hold legal control over the Black Volta and Sankofa concessions.
Chamber Warns of Investor Nervousness
For the Ghana Chamber of Mines, the stakes go beyond the fate of the two firms. COO Ahmed Nantogmah warned that disputes of this scale could send the wrong signal to international investors at a time when Ghana is seeking to consolidate its position as Africa’s leading gold producer.
“If one investor is nervous, then all other investors will be nervous as well. Our industry thrives on certainty, trust, and long-term commitment.
“Ownership battles must not distract us from building a sector that delivers sustainable benefits for all stakeholders.”
Mr. Ahmed Nantogmah, Chief Operating Officer of the Chamber of Mines
Nantogmah also urged both companies to embrace dialogue while allowing regulatory and judicial processes to take their course.
“The laws of Ghana provide mechanisms for resolving disputes. Let us rely on these institutions instead of escalating tensions in ways that could hurt the entire sector.”
Mr. Ahmed Nantogmah, Chief Operating Officer of the Chamber of Mines
The Black Volta and Sankofa projects represent some of the most promising yet underdeveloped gold concessions in Ghana.
Industry analysts say the outcome of the dispute could set an important precedent for Ghanaian participation in large-scale mining, particularly as the government has been vocal about increasing indigenous ownership in the sector.
The latest row now places the ball firmly in the court of Ghana’s regulatory bodies and, potentially, the international arbitration system. Both the Minerals Commission and the Registrar of Companies are expected to play key roles in clarifying the true ownership status of the concessions.
Meanwhile, the Chamber of Mines has reiterated its commitment to working with all stakeholders to ensure the dispute is resolved in a manner that upholds the integrity of Ghana’s mining laws and sustains investor confidence.
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