Ghana’s mining sector is set for a major shake-up following the takeover of the long-stalled Black Volta and Sankofa gold concessions in the Upper West Region by Engineers & Planners (E&P), one of West Africa’s largest indigenous mining contractors.
The company has completed the acquisition of all equity in Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd, with the transaction registered at the Registrar of Companies and approved by the Minerals Commission. The deal transfers full ownership of the projects to E&P, marking a historic re-entry of Ghanaian ownership into a sector traditionally dominated by foreign firms.
For nearly 20 years, the two concessions have struggled to move beyond exploration due to financing challenges, shifting investor priorities, and protracted disputes. The takeover comes at a time when gold prices remain above $3,000 per ounce, presenting what analysts describe as a golden opportunity for fast-tracked development.
“This is a proud moment for E&P and for Ghana,” said the company’s founder, Ibrahim Mahama. “Our commitment is to ensure that these projects, which have been dormant for too long, finally deliver real value to our country and its people.”
E&P has announced a three-step plan: auditing all historical loans with the Ghana Revenue Authority to ensure transparency and proper taxation, repaying verified debts to creditors, and mobilising secured funding for mine construction. The company insists this approach will maximise returns for the state while restoring credibility to the projects.
Founded in 1997, E&P has built a strong reputation in heavy mining and civil engineering across West Africa, working with global mining giants. The acquisition of Black Volta and Sankofa represents its most ambitious move into direct resource ownership. Industry observers say the company’s performance will be closely monitored both locally and internationally as a test of Ghanaian capacity to manage world-class mining operations.
For residents in Wa and surrounding areas, the announcement has sparked cautious optimism. Communities, long frustrated by unfulfilled promises, are hoping for jobs, infrastructure, and local investment. Civil society groups, however, are urging transparency, environmental safeguards, and fair benefit-sharing.
“This is an opportunity to show that indigenous ownership can bring lasting benefits to host communities, not just profits for a few,” one activist said.
The government, currently under pressure to boost revenues and job creation under an IMF-supported programme, has welcomed the investment. Analysts note that if successful, the project could strengthen Ghana’s case for greater localisation of mining assets and reduce reliance on foreign ownership.
The stakes are high: success could mark a turning point for local participation in Ghana’s mining industry, while failure may reinforce doubts about the ability of indigenous companies to mobilise the required capital and expertise.
For now, hope has returned to the Upper West mining belt, as Engineers & Planners positions itself to transform dormant concessions into producing mines.