Two long-stalled gold concessions in Ghana’s Upper West Region — the Black Volta and Sankofa projects — are set for revival after Engineers & Planners (E&P), one of West Africa’s largest indigenous mining contractors, secured full ownership of Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd.
The acquisition, finalised with the Registrar of Companies and the Minerals Commission, transfers all shares of the previous Ghanaian beneficial owner to E&P, marking a significant shift in the country’s mining industry, which has long been dominated by foreign operators.
For nearly two decades, the projects failed to progress due to financing challenges, legal disputes, and changing investor focus. Communities in Wa and its environs were left disappointed as the concessions remained idle while Ghana lost potential revenue.
With gold prices now trading above $3,000 per ounce, E&P says it is ready to deploy both capital and technical expertise to bring the mines into production.
“This is a proud moment for E&P and for Ghana,” said Ibrahim Mahama, CEO of Engineers & Planners. “Our goal is to ensure these long-dormant projects finally deliver value to the nation and its people.” He added that the company would audit and verify all historic loans with the Ghana Revenue Authority, honour legitimate obligations, and channel fresh funding into mine construction.
Industry watchers view the takeover as more than a corporate deal, seeing it as a test of indigenous ownership in a sector long dominated by foreign multinationals. Success, they argue, could strengthen calls for greater local control of Ghana’s mineral wealth, while failure would reinforce doubts about the ability of homegrown firms to handle world-class mining projects.
In Wa and neighbouring communities, the news has been met with cautious optimism, with residents hoping for jobs, infrastructure, and investment. Civil society groups are, however, calling for transparency, environmental safeguards, and fair benefit-sharing.
For government, the deal provides both economic relief and political capital, with the potential to boost revenues under IMF fiscal targets. For now, optimism prevails as a Ghanaian company takes charge of projects that have promised much but delivered little for years.
