Hot SourceAzumah Resources Ghana Ltd has officially transitioned to full Ghanaian ownership and control following the successful completion of a US$100 million equity transfer to Engineers & Planners Company Limited (E&P).
In a statement issued on Friday, 17 October 2025, the Board of Directors of Azumah Resources Ghana Ltd confirmed that E&P, the new shareholder, had “paid an amount totalling One Hundred Million United States Dollars (US$100,000,000.00) in exchange for all rights and interests in the Black Volta and Sankofa Gold Projects.”
The transaction marks the final phase of the ownership restructuring process and sets the stage for a complete overhaul of the company’s leadership structure.
According to the release, all former foreign directors have formally resigned, paving the way for a new Ghanaian management team to take over the company’s strategic direction and operations.
“With the completion of this transaction, the Board of Directors has been reconstituted to reflect the new ownership structure,” the statement said.
The company noted that immediate steps will be taken to engage statutory regulators and partner institutions to ensure a seamless transition that aligns with Ghanaian mining regulations and governance standards.
Azumah Resources Ghana Ltd reaffirmed its commitment to responsible and sustainable development of the Black Volta and Sankofa Gold Projects in the Upper West Region, highlighting that the new leadership structure places a strong emphasis on local participation, infrastructure investment and environmental protection.
“The new management will prioritise local employment, community infrastructure, and environmental stewardship as key pillars of the development strategy,” the statement added.
Chief Executive Officer, Noel Nii Addo, described the development as a major milestone in Ghana’s mining sector.
“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 stated.
Azumah Resources Ghana Ltd, now under 100 percent Ghanaian ownership, says it will focus on delivering long-term socio-economic benefits to the people of the Upper West Region, the Government and people of Ghana, and its shareholder, Engineers & Planners Company Limited.
About Azumah Resources Ghana Ltd
Azumah Resources Ghana Ltd is a Ghanaian-incorporated mining company holding 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.
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