By: Kenneth Appiah Bani
After nearly two decades of stalled negotiations and abandoned promises, Ghana’s long-dormant Black Volta and Sankofa gold projects are finally on the path to revival this time with a historic twist. The projects, once trapped in cycles of foreign investment uncertainty and bureaucratic bottlenecks, are now under full Ghanaian ownership following a landmark acquisition by Engineers & Planners (E&P), the indigenous engineering and mining services giant.
Engineers & Planners (E&P), a major Ghanaian mining contractor, has acquired full equity in Azumah Resources Ghana Ltd and Upwest Resources Ghana Ltd, reviving the long-stalled Black Volta and Sankofa gold projects in Ghana’s Upper West Region. Dormant for nearly 20 years due to legal disputes and funding issues, the projects will now proceed under E&P’s leadership with a plan to verify and repay outstanding debts, and begin mine construction.
The acquisition marks a defining moment in Ghana’s mining industry, signaling a shift toward greater local participation and control in a sector long dominated by foreign multinational corporations. Industry analysts say this development not only aligns with the government’s push for increased Ghanaian equity in extractive resources but also sets the stage for broader economic empowerment.
Founded by businessman Ibrahim Mahama, Engineers & Planners has grown into one of West Africa’s leading mining contractors, with extensive experience in large-scale mining operations across Ghana and the sub-region. The company’s takeover of the Black Volta and Sankofa concessions underscores its ambition to transition from contractor to owner-operator, a bold step that could redefine indigenous participation in Ghana’s mining landscape.
With global gold prices soaring above $3,000 per ounce and Ghana currently under an IMF program, the revival of the projects comes at a critical time. Analysts argue that successful operations could provide significant economic and fiscal benefits, including job creation, local procurement opportunities, and increased royalties and tax revenues for the state.
The Black Volta project has long been touted as one of the country’s most promising gold concessions, while the Sankofa project holds reserves that could rival some of Ghana’s largest producing mines. If fully developed, the two projects could substantially boost Ghana’s gold output and reinforce its position as Africa’s leading gold producer.
Local communities in the Upper West Region have expressed cautious optimism, welcoming the potential jobs and infrastructure development but urging the company to uphold its social and environmental responsibilities. Observers note that E&P’s ability to manage these projects successfully will serve as a critical test of Ghanaian capacity to handle large-scale mining ventures from ownership through to production.
“This is more than a business deal it is a signal that local companies can and should play a leading role in owning and managing Ghana’s natural resources,” one industry analyst noted.
With Engineers & Planners at the helm, hopes are high that the long-delayed Black Volta and Sankofa projects will finally deliver on their promise not just for investors, but for Ghanaian communities and the nation at large.
