A high-stakes mining dispute between Engineers & Planners (E&P), the construction firm owned by Ibrahim Mahama, and Azumah Resources, a gold developer backed by global private equity, has escalated into an international legal showdown before the International Chamber of Commerce (ICC).
The clash, now before a London-seated ICC tribunal, has sparked claims and counterclaims exceeding $100 million, centred on the Black Volta gold project in Ghana’s northwest—a site considered a strategic asset in the country’s mining portfolio.
E&P first filed a claim in October 2024, accusing Azumah of unlawfully terminating a 2023 agreement that granted it early-stage development rights and a potential equity stake in the project.
But in a December 2024 response, Azumah not only scrapped the agreement but accused E&P of derailing progress. The company alleges that E&P failed to raise financing, initiate Engineering, Procurement and Construction (EPC) contracts, or commence significant site work—shortcomings it says led to costly delays in the mine’s development.
Azumah has since launched a $100 million counterclaim, citing breaches of contract, unauthorised contractual actions by E&P agents, and alleged misuse of project funds.
In a press statement, Azumah firmly stated that it “denies each and every allegation” made by E&P and is forging ahead with mine construction independently.
The ICC tribunal is chaired by leading Nigerian legal figure Funke Adekoya SAN, with Ghana’s Shadrack Arhin and the UK’s Edwin Glasgow KC serving as co-arbitrators.
E&P is represented by the Robert Smith Law Group in Accra, while Azumah is advised by international law firm Steptoe in London and Ghanaian powerhouse Bentsi-Enchill, Letsa & Ankomah.
Meanwhile, E&P and its owner Ibrahim Mahama are also pursuing a separate defamation suit against policy analyst Bright Simons in Accra, over public remarks implying financial strain and undue influence in Ghana’s mining policy.
The outcome of the ICC arbitration is expected to have far-reaching implications—not only for ownership of the Black Volta gold project, but also for perceptions of corporate governance and contractual discipline within Ghana’s extractive sector.
Source: Myjoyonline.com
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