Australian-backed Azumah Resources Ghana Ltd. has escalated its public rebuke of Engineers & Planners (E&P), dismissing the local firm’s claims to a stake in the Black Volta Gold Project and calling for a resolution through international arbitration, not media campaigns.
In a sharply worded statement issued Monday, Azumah accused E&P of misrepresenting its role in the multi-million-dollar project and failing to meet financial commitments critical to its development.
“The claims made by E&P in the press are not supported by law or fact,” said John Mason, a spokesperson for Azumah. “When we sought to maximize Ghanaian participation in the project, E&P pledged over $250 million in funding. To date, only $4 million has been provided.”
Azumah contends that despite E&P’s public assertions, the company neither owns equity in Azumah nor has it presented a formal financing offer to support the mine’s construction. The company emphasized its ability to move forward independently, backed by a consortium of global investors with a track record of developing more than $10 billion in mining projects worldwide.
The dispute comes at a sensitive time for Ghana’s mining sector, as the government seeks to attract foreign investment while promoting local participation. Azumah’s remarks were aimed not only at rebutting E&P’s claims but also at reinforcing investor confidence in Ghana as a stable jurisdiction.
“We are confident that this government will continue to uphold the rule of law and provide a secure environment for investment,” Mason said.
Rob Cicchini, Azumah’s Project Director, warned that partnering with an underfunded or unproven operator could jeopardize national interests. “A sale to E&P, without demonstrated capacity to finance and deliver the project, would not serve Ghana. It risks jobs, community benefits, and future economic growth.”
E&P did not immediately respond to a request for comment.
The Black Volta Gold Project, one of Ghana’s most promising undeveloped gold assets, has become a flashpoint in a broader debate over who should control and benefit from the country’s natural resources. Azumah has framed its position as one of principle, arguing that the project should be developed by competent, law-abiding partners.
In its statement, the company also criticized what it described as “a staged event” orchestrated by E&P and urged the public and regulators to “disregard misleading claims.”
Azumah confirmed it is open to evaluating “any legitimate offer” from E&P in the future, but stressed that recent media conduct would factor into that decision. The company reiterated its intention to pursue arbitration to resolve the dispute and said it would “pursue all available remedies to protect its interests and the Black Volta Gold Project.”
The company concluded with a pledge of transparency and ongoing cooperation with regulators.
“We will not be distracted by noise,” Mason said. “Our focus remains on delivering a world-class gold mine that benefits Ghana and its people.”
Source:TheDotNews