The Deputy Chief Executive Officer of the Ghana Investment Promotion Authority (GIPA), Abdul Razak Baba, has commended Azumah Resources Ghana Limited for progress on the Black Volta Gold Project in the Upper West Region, citing its potential to boost economic growth and create employment opportunities.
Baba made the remarks during a visit to the project site as part of GIPA’s Upper West Regional Investment Roadshow, where he received an update on the project’s development and ongoing construction activities.
He emphasised the importance of local employment, skills development and responsible mining, urging the company to ensure that communities hosting the project benefit from the investment.
He also encouraged residents to position themselves to take advantage of the economic opportunities expected to emerge as the project advances.
The Black Volta Gold Project is expected to make a significant contribution to Ghana’s gold production when it becomes operational.
The project is projected to produce an average of 163,000 ounces of gold annually during its first five years, equivalent to approximately five tonnes per year.
This projected output would account for about 3% of Ghana’s national gold production, which reached 4.8 million ounces, or approximately 150 tonnes, in 2024.
The project’s development follows the acquisition of Azumah Resources Ghana Limited and Upwest Resources Limited by Ghanaian mining company Engineers & Planners Company Limited (E&P), paving the way for the development of the Black Volta and Sankofa mining projects in the Upper West Region.
In a joint statement issued on September 7, 2025, the companies said the share transfers had received prior approval from the Minerals Commission and were formally registered with the Registrar of Companies, giving E&P full ownership and management control of the mining concessions.
E&P also announced that it had secured the funding required to commence mine development.
As part of its financial arrangements, the company outlined plans to work with the Ghana Revenue Authority (GRA) to audit and validate previous loans recorded as investments, repay legitimate loans with applicable taxes, and channel the secured funds into construction and operations.
GIPA’s engagement with the project forms part of its broader efforts to monitor investment activities, support investors and promote economic development across the country’s regions.
Through its regional investment roadshows, the authority engages businesses and project developers to assess project progress and encourage investments capable of generating jobs, developing local skills and delivering lasting economic benefits to host communities.
