Civil society organisations in Ghana are calling on the country’s Minerals Commission to break its silence and take immediate action in resolving a high-profile dispute over control of the Black Volta Gold Mine—an asset estimated to hold two million ounces of gold worth nearly $7 billion.
The standoff has pitted Engineers & Planners (E&P), a wholly Ghanaian-owned firm, against Azumah Resources Ghana Ltd., with both parties laying claim to the lucrative concession.
E&P maintains it acquired the rights through a binding $100 million agreement signed in October 2023 with Azumah shareholders, supported by financing from the ECOWAS Bank for Investment and Development.
The company has presented the deal as a landmark victory for local ownership in Ghana’s resource sector.
“Ghana is on the verge of securing its first fully indigenous large-scale gold mine,” E&P stated, pointing to the deal as a turning point in empowering domestic firms in the extractive industry.
Azumah Resources, however, disputes that any such transfer has occurred. It insists E&P has neither equity nor board representation, and alleges the company has failed to fulfil its financial commitments, delivering just $4 million of the pledged $250 million investment.
Azumah has since declared the commencement of its own mine development project, backed by international investors.
Despite legal tussles, arbitration threats, and clashing public statements, the Minerals Commission has yet to issue a position or facilitate dialogue, sparking alarm among civil society and extractives governance watchdogs.
“The Commission’s silence undermines regulatory credibility and threatens investor confidence,” one stakeholder warned.
Analysts have echoed these concerns, cautioning that failure to resolve the matter transparently could damage Ghana’s hard-earned reputation as a stable and rules-based mining destination.
The Black Volta dispute has evolved into a critical test case for Ghana’s ability to manage complex ownership conflicts in its vital gold sector.
The Minerals Commission’s response—or lack thereof—may shape future investor perceptions of Ghana’s extractive governance.
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