The Minister for Lands and Natural Resources, Emmanuel Armah Kofi-Buah, has issued a seven-day ultimatum to Engineers & Planners and Azumah Resources to resolve their ongoing dispute over the Black Volta Gold Mine.
In a letter dated Thursday, 10 July, the minister urged both parties to find an amicable resolution to the disagreement, warning that the government would be compelled to intervene in the national interest if they fail to reach a mutual agreement.
The letter stated:
In light of the circumstances, I have decided to grant the parties a final period of seven (7) days within which to resolve the matter amicably. Should this period elapse without a mutually agreed resolution, a decision shall be taken in the best interest of the country.
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He further advised:
I strongly urge all parties to refrain from addressing this matter through the media and instead focus on constructive dialogue and responsible engagement.
As part of the effort to facilitate resolution, the minister has directed the Minerals Commission to support both parties in settling their differences to ensure the timely commencement of the mining project.
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Background
The dispute centres on conflicting claims over an alleged agreement between the two companies. Engineers & Planners asserts that it entered into a legitimate arrangement with Azumah Resources to finance and develop the Black Volta Gold Mine, offering more than $250 million in project funding.
However, Azumah Resources has firmly denied the existence of any such agreement, stating categorically that it has not sold, nor agreed to sell, the Black Volta Gold Project to Engineers & Planners.
At the core of the controversy is a significant funding discrepancy. While Engineers & Planners claims to have pledged over $250 million in financial support, Azumah Resources contends that only $4 million has been received to date. This shortfall has cast doubt on Engineers & Planners’ ability to meet its financial obligations and has further strained relations between the two entities.
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In response, Engineers & Planners has accused certain directors of Azumah Resources of deliberately obstructing the deal in order to exploit rising global gold prices. The Ghanaian company alleges that Azumah is seeking to renegotiate the terms of the agreement in light of favourable market conditions.
