Engineers & Planners Acquires Azumah Resources Ghana in $100 Million Takeover

By Samuel Asamoah

Azumah Resources Ghana Ltd has officially become a wholly Ghanaian-owned mining company following a landmark US$100 million acquisition by Engineers & Planners Company Limited (E&P).

The historic deal cements Ghanaian ownership and control over the Black Volta and Sankofa Gold Projects, marking a significant milestone in the nation’s mining sector.

Details of the $100 Million Transaction

In a statement issued by the Board of Directors in Accra, the company confirmed that E&P had successfully completed negotiations and full payment for all rights and interests in the two gold projects.

The transaction, totaling US$100,000,000, represents the final phase of the equity transfer process, completing the shift of Azumah Resources Ghana Ltd into local hands. The deal underscores Ghana’s ongoing efforts to promote indigenous participation in the extractive industry.

New Board and Management Take Over

Following the acquisition, Azumah Resources Ghana Ltd has undergone a full board reconstitution. All former foreign directors have formally resigned, paving the way for a new Ghanaian management team to assume full responsibility for the company’s operations and strategic direction.

The new management team is expected to immediately begin engagements with statutory regulators, government agencies, and stakeholders to ensure a smooth transition in line with Ghana’s mining regulations and corporate governance standards.

CEO Commends New Direction

Chief Executive Officer Noel Nii Addo described the change in ownership and leadership as “a defining moment” in the company’s growth trajectory.

“The conclusion of this transaction and the restructuring of the board mark a defining moment for Azumah Resources Ghana Ltd. We are confident that the new management and shareholders have the capacity, integrity, and commitment to advance the Black Volta and Sankofa projects in line with Ghana’s highest standards of governance and sustainability,” he said.

Commitment to Responsible and Sustainable Mining

The company reaffirmed its pledge to develop the Black Volta and Sankofa Gold Projects responsibly and sustainably, emphasizing local employment creation, community infrastructure development, and environmental stewardship as the cornerstones of its strategy.

According to the statement, the new Ghanaian management aims to ensure that the projects deliver measurable value to the people of the Upper West Region, the Government and people of Ghana, and its shareholder, Engineers & Planners Company Limited.

Boost for Local Ownership in Mining

The acquisition of Azumah Resources by Engineers & Planners is being hailed as a boost for local content participation and resource nationalism in Ghana’s mining sector. Analysts say the move strengthens national control over strategic mineral resources while creating broader socio-economic benefits.

About Azumah Resources Ghana Ltd

Azumah Resources Ghana Ltd is a Ghanaian-incorporated mining company that holds the Black Volta and Sankofa Gold Projects in the Upper West Region.

The company’s mission is to responsibly explore, develop, and operate these assets to generate long-term economic and social value for Ghana.