The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has given Azumah Resources Ghana Limited and Engineers & Planners (E&P) a seven-day ultimatum to resolve their ongoing dispute over the ownership and control of the Black Volta Gold Project.

In a letter to the two companies sighted by GraphicOnline, the Minister warned against further media engagement on the matter, urging both parties to focus on dialogue and cooperation.

“I refer to your earlier correspondence in respect of the above subject matter, as well as the various press releases and public statements that have since been issued concerning the dispute. In light of the circumstances, I have decided to grant the parties a final period of seven (7) days within which to resolve the matter amicably,” the Minister stated.

He added: “Should this period elapse without a mutually agreed resolution, a decision shall be taken in the best interest of the country.”

Mr Buah further directed the Minerals Commission to intervene and assist in the resolution process to ensure the timely commencement of the gold mining project in the Upper West Region.

The directive comes amidst escalating tensions between the two companies, with both sides trading accusations over the status of a US$100 million acquisition agreement signed in October 2023.

E&P, in a press statement dated July 8, rejected what it described as “a deliberate effort to distort facts” surrounding its purchase of Azumah’s Black Volta Gold Project. The company insisted that the agreement was reached in good faith after Azumah’s shareholders approached them in May 2023 to offload the struggling mine.

E&P disclosed that the original agreement involved a US$100 million purchase price to be paid in two instalments. The company claims it assumed all liabilities, including debts exceeding US$5 million owed to the Ghana Revenue Authority (GRA) and the Minerals Commission, and has since invested an average of US$500,000 monthly in maintaining the project.

However, E&P alleges that the dispute escalated in August 2024 when Azumah’s director, James Wallbank, demanded a new price of US$300 million due to increasing global gold prices. E&P rejected the demand and initiated arbitration proceedings.

E&P also revealed that the High Court of Ghana ruled in June 2025 that Azumah’s attempt to terminate the agreement had no legal effect and ordered that the status quo be maintained.

The July 7, 2025, signing ceremony at the Marriott Hotel—which Azumah publicly distanced itself from—was clarified by E&P to be between the company and the ECOWAS Bank for Investment and Development (EBID) for a US$100 million facility to finance the acquisition.

According to E&P’s Business Development Director, Emmanuel Erskine, the project remains a fully commercial transaction and not politically motivated.

“This is a historic opportunity for a wholly owned Ghanaian company to develop a large-scale gold mine. Ghanaians should support this effort, not sabotage it,” he said.

In a separate statement, Azumah reaffirmed its commitment to developing the Black Volta Gold Mine in the Upper West Region and expressed confidence in Ghana’s legal and regulatory framework, amid an ongoing dispute with Engineers & Planners Company Limited (E&P).

In a press release issued last Tuesday, the company thanked the Government of Ghana for upholding the rule of law and investor confidence, and stated its determination to pursue the mine’s development in partnership with Ghanaian stakeholders and international investors.

“Azumah Resources is committed to ensuring this project benefits Ghanaians, led by Ghanaians, with partners who are willing and able to build with us,” said John Mason, Spokesperson for Azumah Resources. “We have a duty to protect Ghana’s resources for the benefit of all. This is about doing right by Ghana and Ghanaians.”

Mr Mason criticised E&P’s recent claims in the media, describing them as “unsupported by law or fact”. He disclosed that while E&P had initially proposed funding of over $250 million, only $4 million had actually been provided. “We are fortunate to have secured the financial support of international investors who have already developed more than $10 billion worth of mines globally. They will support the construction of this mine,” he stated.

Azumah said it would continue to seek investment from reputable, law-abiding Ghanaian companies and investors, while maintaining its focus on “lawful development, transparency, and building Ghana’s future”.

As tensions continue to rise, all eyes will be on the two firms and the Minerals Commission in the coming days, as they work to meet the Minister’s deadline and prevent further legal and reputational fallout.