Azumah Resources (Ghana) Limited has issued a notice to the public, stating that IMANI Africa Vice President Bright Simons does not represent the company, its shareholders, or its directors in any capacity.
A statement, released on July 13, comes amidst intense public discourse and media commentary surrounding a contentious $100 million gold project deal between Azumah Resources and Engineers & Planners (E&P).
The Black Volta Gold Project, located in the Upper West Region, is at the heart of a high-stakes commercial dispute that has recently spilled into the public domain.
Originally held by the Australian-owned Azumah Resources, the project became the subject of an acquisition agreement with Engineers & Planners (E&P), a wholly Ghanaian-owned company led by Ibrahim Mahama, signed on October 9, 2023.
This agreement, valued at $100 million, was hailed as a landmark for indigenous participation in Ghana’s large-scale mining sector.
However, the deal has been fraught with challenges. According to E&P’s account, Azumah’s shareholders initially offered to sell the project due to low gold prices and increased security risks in the sub-region, particularly due to instability in neighbouring Burkina Faso.
E&P proceeded to fund the project’s operations, averaging approximately $500,000 monthly from November 2023.
The dispute escalated in August 2024 when Azumah’s Director, James Wallbank, allegedly demanded an increase in the project’s price from $100 million to $300 million, citing a significant surge in gold prices since the initial agreement. E&P rejected this, leading to arbitration proceedings initiated by E&P in October 2024.
A crucial development occurred in June 2025 when a Ghanaian High Court ruling reportedly upheld the validity of the original $100 million contract, effectively nullifying Azumah’s purported unilateral termination of the agreement in December 2024.
E&P subsequently announced securing a $100 million facility from the ECOWAS Bank for Investment and Development (EBID) to finance the acquisition, with a signing ceremony held on July 7, 2025.
It is in this volatile context that Mr. Bright Simons, known for his incisive commentary and role as Vice-President of IMANI Centre for Policy and Education, has offered his views on the matter, prompting Azumah Resources’ swift rebuttal.
“The Board of Directors of Azumah Resources Ghana have taken note of recent public commentary and media discourse relating to the ongoing matter between Azumah Resources and Engineers & Planners (E&P), particularly statements attributed to Mr. Bright Simons,” the press release stated.
“Mr. Bright Simons does not represent, act on behalf of, or speak for the Shareholders or Directors of Azumah Resources Ghana in any capacity. His public commentary constitutes his personal opinion and should not be construed, implied, or interpreted as reflective of the official position, intentions, or legal standing of Azumah Resources or its Shareholders,” the release added.
Azumah Resources clarified that it is currently engaged in “confidential, good-faith negotiations with Engineers & Planners (E&P), with the shared objective of achieving a constructive and mutually acceptable resolution to the present impasse.”
These discussions, they affirmed, are being conducted “within the framework of applicable laws, commercial norms, and in consultation with the appropriate regulatory and ministerial bodies.”
The company urged all media houses, analysts, and third parties “to exercise discretion and refrain from speculative or misleading reportage that could potentially prejudice or distort the dialogue underway,” emphasising that the public should “rely solely on authorized spokespersons for any statements or official positions concerning Azumah Resources.”
Mr. John Kaku Mason, Aide to the Chairman, has been designated as the spokesperson for Azumah Resources Ghana shareholders.
In a move to set the record straight on one aspect of the public debate, Azumah Resources also expressed regret to the ECOWAS Bank for Investment and Development (EBID) over its “unwarranted and inaccurate inclusion” in the public discourse.
They clarified the extent of EBID’s involvement: “Representatives of Azumah Resources and E&P visited EBID’s offices in Lomé, Togo, in 2023 to assess the Bank’s capacity and willingness to support the transaction. EBID expressed indicative interest, contingent on its internal credit appraisal and Board approval. Any extrapolations beyond this context are both inappropriate and unauthorised.”
This clarification from Azumah Resources comes as the Ministry of Lands and Natural Resources, under Minister Emmanuel Armah-Kofi Buah, has reportedly intervened, giving both Azumah Resources and E&P seven days from July 10, 2025, to amicably resolve their dispute.
The Ministry warned that failure to reach a resolution within this timeframe would compel the government to take a decision “in the best interest of the country.”
Azumah Resources concluded by reaffirming its “unwavering commitment to a professional, transparent, and responsible resolution of this matter and remains fully aligned with the broader interest of the Republic of Ghana and all stakeholders involved.”
The ongoing dispute underscores the complexities involved in major commercial transactions within Ghana’s vital mining sector, which contributes significantly to the nation’s GDP and foreign exchange earnings.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
