Engineers & Planners Company Ltd (E&P) has announced the completion of the acquisition of Azumah Resources Ghana Ltd and Upwest Resources Ltd.
The company explained that the acquisition was finalised after a share transfer agreement with the Ghanaian Beneficial Owner, and the process had been duly registered with the Registrar of Companies with prior approval from the Minerals Commission.
According to E&P, the deal formally placed the Black Volta and Sankofa Projects under its full ownership and management.
The company described the acquisition as a landmark achievement not only for itself but also for Ghana’s mining industry, stressing that after decades of inactivity, the projects were now set for full-scale development under Ghanaian leadership.
E&P indicated that it had secured the necessary funding to begin immediate development.
It further explained that part of the plan involved working with the Ghana Revenue Authority (GRA) to audit and confirm all loans previously recorded as investments in the projects.
The company added that all genuine loans would be repaid, subject to applicable taxes, to ensure fiscal compliance and safeguard state revenue.
The company said the secured funding would be deployed to commence mine construction and operations within the shortest possible time.
E&P noted that the acquisition was not just a commercial opportunity but also a national duty, pointing out that the Black Volta and Sankofa Projects had remained undeveloped since 1992.
The company further stressed that moving the projects forward would create jobs, stimulate local economic activity, and contribute royalties and taxes to the state.
It added that communities in the Upper West Region would benefit from infrastructure and social investment linked to the projects.
The Chief Executive Officer of Engineers & Planners, Ibrahim Mahama, said it was a proud moment for both the company and Ghana.
He stated that E&P was committed to ensuring that the projects, which had remained dormant for too long, would deliver real value to the country and its people.
He also said the company would work transparently with regulators and stakeholders to build mines that create shared prosperity.
E&P concluded that with the acquisition completed, it was ready to begin an intensive development programme, which it believed would set a precedent for Ghanaian-led mining ventures capable of competing globally while prioritizing national benefit.
By: Jacob Aggrey
