Legal battles, economic stakes, and political risks collide in Ghana’s most contentious mining takeover.
Kwabena Adu Koranteng Writes
A fierce battle has erupted over the ownership of the Black Volta Gold Mine in Ghana’s Upper West Region, with Azumah Resources Limited denying any sale of its assets and Engineers & Planners (E&P) insisting the acquisition is complete.
Azumah, an Australian-listed mining firm with a Ghanaian subsidiary, has warned that any unauthorized takeover amounts to expropriation of private property. The company has threatened to escalate the matter to the International Court of Arbitration, with potential financial claims exceeding US$1 billion.
E&P, however, led by businessman Ibrahim Mahama, maintains that the deal is legitimate, backed by the Registrar General’s Department, a “no objection” letter from the Ministry of Lands and Natural Resources, and Minerals Commission recommendations. Its lawyer, Bobby Banson, dismissed Azumah’s press release as “illegitimate,” noting it was issued via a London PR firm and not signed by any recognized officer of the Ghana subsidiary.
The clash now raises three fundamental questions: Will Ghana face a billion-dollar arbitration? Can E&P deliver its promised economic benefits? And does the dispute signal political interference in resource governance?