Azumah Resources Ghana Limited has commended the Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, for his pivotal role in resolving a longstanding dispute between the company and Engineers & Planners Co. Ltd. The company said the resolution has boosted investor confidence in Ghana’s mining sector.
In a press statement issued by John Mason, spokesperson for Azumah Shareholders, the company confirmed that Engineers & Planners Co. Ltd. had graciously agreed to withdraw its legal claim against Azumah Ghana.
This development paves the way for the construction of the Black Volta Gold Mine, a project expected to deliver significant benefits to the Ghanaian economy and people.
The statement emphasised that the progress had been made possible through the support and leadership of the Government of Ghana, particularly the efforts of Mr Armah-Kofi Buah and the Minerals Commission.
“The Minister’s strong leadership assures investors that Ghana remains one of Africa’s most attractive and stable mining destinations and gives both local communities and international partners renewed confidence in investing in Ghana,” it noted.
As part of the restructuring, Professor Prince Ofori Amponsah has agreed to join the Board of Azumah Ghana and replace Mr James Wallbank as Chairman. The company will now be fully Ghanaian-led, with 100 per cent of its employees being Ghanaians.
Professor Amponsah stated: “After 14 years consulting with Azumah in various capacities, I am proud to realise the aspirations of our founder and the respected Ghanaian geologist, Mr Paul Amoako-Atta. Azumah will become the first truly Ghanaian gold mining company. This is a turning point for the project, and we are committed to moving quickly into development and ensuring that the benefits are felt directly by the people of Wa through jobs, contracts for Ghanaian firms, and community development.”
The statement further disclosed that Azumah’s international shareholders had agreed to allow more local participation in line with Ghanaian law, following the withdrawal of the legal action. This, it said, would ensure the country derives maximum benefit from the project.
“This is a wonderful example of the Government of Ghana listening to the people of Ghana and working with miners to solve this situation together and establish a win-win outcome for Ghana and reinforce its profile as one of the world’s leading destinations for mining investment,” the statement added.
The Black Volta project is expected to attract investment of more than US$100 million into the Upper West Region and create over 1,000 jobs during construction, with a further 420 full-time positions during its operational phase.
Source: GraphicOnline