Azumah Resources Ghana Limited has officially transitioned to full Ghanaian ownership following the successful acquisition of the company by Engineers & Planners Company Limited (E&P).
In a statement issued by the company’s Board of Directors, Azumah confirmed that E&P completed a US$100 million transaction for all rights and interests in the Black Volta and Sankofa Gold Projects.
The deal marks the final phase of an equity transfer that places the company entirely under Ghanaian control.
Following the acquisition, the Board of Directors has been reconstituted, with all former foreign directors resigning and a new Ghanaian management team assuming leadership.
Chief Executive Officer Noel Nii Addo described the development as “a defining moment” for the company, expressing confidence that the new ownership “has the capacity, integrity, and commitment to advance the Black Volta and Sankofa projects in line with Ghana’s highest standards of governance and sustainability.”
The company said engagements with regulators and stakeholders are underway to ensure a smooth transition in compliance with Ghanaian mining laws.
Under its new structure, Azumah Resources Ghana Ltd has pledged to prioritize local employment, community development, and environmental stewardship as part of its operational strategy.
The transition is expected to boost local participation in the mining sector and enhance economic benefits for communities in the Upper West Region, where the two gold projects are located.
Source: AdomOnline
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