Azumah Resources Ghana Limited has firmly denied claims that Engineers & Planners (E&P) owns any stake in its operations, following recent public statements made by E&P about its involvement in the Black Volta Gold Project.
In a strongly worded press release issued on Tuesday, July 8, Azumah stated that E&P “does not own any shares in Azumah” and has not made any formal offer to invest or fund the company.
The company emphasised that the development of the Black Volta Gold Mine remains fully under Azumah’s control and will be pursued in accordance with Ghanaian law and in the national interest.
Head of Corporate Affairs, John Mason, reiterated Azumah’s commitment to developing the mine with credible partners.
“We are focused on moving forward with the development of the Black Volta Gold Mine in the Upper West. We have a duty to protect Ghana’s resources for the benefit of all. The claims made by E&P in the press are not supported by law or fact,” he said.
Mason disclosed that although E&P once expressed interest and discussed a $250 million funding proposal, they have only provided $4 million to date.
“We are fortunate to have secured support from international investors who have developed over $10 billion worth of mines globally. They are fully backing this project,” he added.
Rob Cicchini, Project Director at Azumah, stressed that control of the project should rest with entities that can deliver results.
“A sale to E&P without the ability to fund the mine’s development is not in Ghana’s national interest. Jobs, local communities, and national growth are at stake,” he stated.
Azumah also expressed concern about the reputational impact of what it described as “misleading public statements” by E&P. The company urged regulators, financial institutions, and the public to disregard what it called a “staged event” held by E&P earlier this week, referencing the announcement of a $100 million acquisition facility.
Azumah made clear that the dispute with E&P is a matter for international arbitration and should not be played out in the media. It reaffirmed its readiness to work with government agencies, including the Ministry of Lands and Natural Resources and the Minerals Commission, to deliver the project lawfully and transparently.
The company concluded by saying it will pursue all available remedies to protect its interests and the integrity of the Black Volta Gold Project.
Meanwhile E&P has issued a comprehensive statement clarifying that its $100 million acquisition of the Azumah gold concession in the Upper West Region is a strictly commercial transaction, urging Ghanaians to support the historic project free from political distractions.
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