Azumah Resources has confirmed it is in “confidential, good-faith negotiations” with Engineers & Planners (E&P) to resolve the ongoing impasse over the Black Volta Gold Project, a development poised to produce an estimated 163,000 ounces of gold annually in its first five years.
In a statement dated July 14, 2025, Azumah said the talks are being conducted “within the framework of applicable laws, commercial norms, and in consultation with the appropriate regulatory and ministerial bodies.”
The company stressed that discussions are guided by a shared objective to reach a “constructive and mutually acceptable resolution to the issues at hand.”
“In accordance with the directive of the Minister responsible for the sector, and in a bid to safeguard the sanctity of the ongoing process, we respectfully call upon all media houses, analysts, commentators, and third parties to exercise discretion and refrain from speculative or misleading reportage that could potentially prejudice or distort the dialogue underway,” the statement read.
Azumah further urged the public and media to rely solely on official communication, emphasising that “the public and media [are advised] to rely solely on authorized spokespersons for any statements or official positions concerning Azumah Resources.”
Addressing reports referencing the ECOWAS Bank for Investment and Development (EBID), the company described them as “unwarranted and inaccurate.”
“For the avoidance of doubt, representatives of Azumah Resources and E&P visited EBID’s offices in Lomé, Togo, in 2023 to assess the Bank’s capacity and willingness to support the transaction,” the statement clarified, adding that “EBID expressed indicative interest, contingent on its internal credit appraisal and Board approval. Any extrapolations beyond this context are both inappropriate and unauthorised.”
Azumah Resources reaffirmed its commitment to resolving the matter professionally and transparently, stating, “We remain fully aligned with the broader interest of the Republic of Ghana and all stakeholders involved.”
The Black Volta Gold Project, once operational, is expected to account for about 3% of Ghana’s gold output, adding roughly five tonnes per year to the country’s production, which reached 150 tonnes in 2024. The company reiterated that updates will be communicated through authorised channels in due course.
