Azumah Resources Ghana Ltd has publicly disassociated itself from comments made by Bright Simons, Vice President of IMANI Africa, regarding the ongoing $100 million Black Volta Gold Project dispute with Engineers & Planners (E&P).
In a statement issued on July 13, Azumah stressed that Mr. Simons “does not represent, act on behalf of, or speak for the Shareholders or Directors of Azumah Resources Ghana in any capacity.”
The company said his comments on the matter reflect his personal opinions and should not be misconstrued as its official position.
The Black Volta Gold Project in Ghana’s Upper West Region is at the center of a high-profile commercial standoff.
The project was originally owned by Australian-based Azumah Resources before a $100 million acquisition agreement was signed with E&P, a Ghanaian company owned by Ibrahim Mahama, in October 2023.
E&P claims it began funding operations to the tune of $500,000 monthly after the agreement.
However, tensions flared in August 2024 when Azumah’s Director, James Wallbank, allegedly sought to increase the purchase price to $300 million due to rising gold prices. This led to arbitration initiated by E&P in October 2024.
In June 2025, a Ghanaian High Court reportedly upheld the original $100 million deal, nullifying Azumah’s attempt to terminate the agreement.
E&P has since announced securing a $100 million facility from the ECOWAS Bank for Investment and Development (EBID) to finalize the acquisition.
Amid heightened public debate, Azumah also clarified EBID’s involvement, noting that initial discussions began in 2023 and were “indicative” and contingent on the bank’s internal processes.
The company expressed regret over EBID’s “unwarranted and inaccurate inclusion” in speculative commentary.
With the Ministry of Lands and Natural Resources now mediating, both parties have until July 17 to amicably resolve their differences or risk government intervention “in the national interest.”
Azumah reaffirmed its commitment to a “professional, transparent, and responsible resolution” and urged media and analysts to avoid misinformation that could undermine ongoing negotiations.
Mr. John Kaku Mason has been designated as the company’s official spokesperson for shareholder matters.
Source: Myjoyonline
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