Azumah Resources Ghana Limited, a gold mining company, has expressed its gratitude to Mr. Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, for his pivotal role in resolving a long-standing dispute with Engineers and Planners Company Limited. This resolution, according to Azumah, has significantly boosted investor confidence in Ghana’s mining sector, reaffirming the country’s commitment to a stable and attractive investment environment. The dispute, which had hampered the progress of the Black Volta Gold Mine project, has been resolved through the withdrawal of Engineers and Planners’ legal claim against Azumah. This breakthrough, facilitated by the government’s intervention, specifically through the Minister and the Minerals Commission, allows the Black Volta project to proceed, promising substantial economic benefits for Ghana and its people.
The Minister’s decisive leadership in mediating the dispute has sent a clear message to international investors, underscoring Ghana’s position as a reliable and appealing destination for mining investments within Africa. This resolution not only safeguards existing investments but also encourages future partnerships, both local and international, by fostering a sense of trust and stability in the Ghanaian mining sector. The successful resolution serves as a testament to the government’s proactive approach to investor relations and its dedication to creating a win-win environment for all stakeholders.
As part of the resolution and a renewed commitment to local ownership and leadership, Professor Prince Ofori Amponsah has been appointed as the new Chairman of Azumah Ghana’s Board, replacing Mr. James Wallbank. This transition marks a significant shift, with Azumah now being entirely led by Ghanaians and employing a 100% Ghanaian workforce. This move aligns with the company’s vision to prioritize local expertise and empower Ghanaians to play a central role in the development and operation of the Black Volta Gold Mine.
Professor Amponsah, who has been associated with Azumah for 14 years in various consulting roles, expressed his pride in realizing the vision of the company’s founder, renowned Ghanaian geologist Mr. Paul Amoako-Atta. He emphasized Azumah’s ambition to become the first truly Ghanaian gold mining company, marking a turning point for the project. The focus now shifts towards rapid development and ensuring that the benefits of the project, including job creation, contracts for local businesses, and community development initiatives, directly impact the people of Wa, the region where the mine is located.
The agreement reached between the parties involves increased local participation in Azumah, in accordance with Ghanaian law, now that the legal hurdles have been cleared. This arrangement ensures that Ghana receives maximum benefit from the project, reinforcing the government’s commitment to maximizing local content and economic returns. Azumah’s international shareholders have endorsed this move, demonstrating their commitment to collaborating with the Ghanaian government and aligning with the country’s development priorities.
The Black Volta Gold Mine project is poised to inject over USD $100 million into the Upper West Region of Ghana, stimulating economic growth and creating significant employment opportunities. The construction phase alone is projected to generate more than 1,000 jobs for Ghanaians, with an additional 420 permanent positions during the mine’s operational phase. This substantial investment not only contributes to economic development but also enhances local capacity building and improves the livelihoods of communities in the Upper West Region. The successful resolution of the dispute, combined with the emphasis on local participation and leadership, underscores the project’s potential to become a model for sustainable and mutually beneficial mining ventures in Ghana. This outcome highlights the positive impact of collaboration between government, local communities, and international investors in driving economic growth and development in the mining sector.
