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The Minister for Lands and Natural Resources, Emmanuel Armah Kofi-Buah, has confirmed that Azumah Resources and Engineers & Planners (E&P) have reached a “conclusive” agreement over the Black Volta Gold Mine following a protracted dispute.
It will be recalled that in a letter dated Thursday, 10 July 2025, the Minister had urged both companies to resolve the matter amicably in seven (7) days. The letter also warned that the government would be forced to step in if an agreement was not reached, citing the broader national interest.
Speaking at the Government Accountability Series on Wednesday, 23 July, Mr Kofi-Buah revealed that both parties had demonstrated renewed commitment and cooperation in resolving the impasse.
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He justified his earlier intervention, noting that government holds equity stake in the mining venture.
We have a 10% stake in that enterprise. Any delay in continuing the exploitation of those resources directly affects the people of Ghana, in terms of revenue, taxes, and economic empowerment for communities in those areas. This particular lease has been granted for over five years, so it was within the Minister's right to ensure the matter is addressed.
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The Minister further disclosed that shortly after the warning letter was issued, both companies began serious negotiations. He added:
I’m happy to inform you that, following the letter, these two companies have made significant progress. In fact, I received a letter from Azumah Resources confirming that they have reached very conclusive agreements with E&P. That should tell you the letter had a real impact.
Although full details of the agreement have not yet been released, the Lands Ministry has assured the public that the outcome will serve the best interest of Ghana.
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The formal terms are expected to be made public in the coming weeks.