Accra:The Deputy Chief Executive Officer of the Ghana Investment Promotion Authority (GIPA), Abdul Razak Baba, has commended Azumah Resources Ghana Limited for their progress on the Black Volta Gold Project located in the Upper West Region of Ghana. Baba emphasized the project's potential to stimulate economic growth and generate employment opportunities during a site visit as part of GIPA's Upper West Regional Investment Roadshow.
According to Ghana Web, Baba received updates on the project's development and current construction activities during the visit. He emphasized the importance of local employment, skill development, and responsible mining practices, urging Azumah Resources to ensure that the host communities benefit from the project's development. He also highlighted the need for local residents to participate in the economic opportunities expected to arise as the project advances.
The Black Volta Gold Project is anticipated to become a major contributor to Ghana's gold production once operational, with an expected average production of 163,000 ounces of gold annually during its first five years. This output would constitute approximately 3% of Ghana's national gold production, which was 4.8 million ounces, or about 150 tonnes, in 2024. The project's advancement follows the acquisition of Azumah Resources Ghana Limited and Upwest Resources Limited by Engineers and Planners Company Limited (E and P), a Ghanaian mining firm, facilitating the development of both the Black Volta and Sankofa mining projects.
In a joint statement on September 7, 2025, the companies noted that the share transfers had received prior approval from the Minerals Commission and were registered with the Registrar of Companies, granting E and P full ownership and management control. E and P has reportedly secured the necessary funding to commence mine development and plans to work with the Ghana Revenue Authority to audit and validate previous loans, repay legitimate loans with applicable taxes, and direct secured funds into construction and operations.
GIPA's involvement with the project is part of its broader strategy to monitor investment developments, support investors, and promote economic opportunities across Ghana's regions. Through regional investment roadshows, GIPA engages with businesses and project developers to assess progress, encourage investment, and generate employment while enhancing local skills and delivering broader economic benefits to host communities.
Source Ghana Web