Azumah Resources Ghana Ltd, has taken a major step towards the construction and development of its Black Volta Gold Project after signing a strategic equipment and technology supply agreement with global mining engineering firm FLSmidth.
The agreement was formalised at a signing ceremony held on Friday, December 12, 2025, at the Marriott Hotel in Accra. It covers the supply of long-lead equipment valued at approximately US$37 million, marking the formal commencement of the project’s construction phase through to first gold.
With a planned investment of approximately US$250 million in mine development, Ibrahim Mahama’s Engineers & Planners (E&P), which has owned the mine since October this year, has targeted full-scale gold production within 13 to 15 months. It had initially been projected to last 24 months.
Under the deal, FLSmidth has been appointed Azumah’s strategic technology and equipment partner and will supply all major process equipment and core technologies for the project. Delivery of the equipment is scheduled for 2026, ahead of the planned mine start-up in 2027.
Azumah Resources said the selection of FLSmidth was driven by the company’s more than 140 years of global mining experience, the quality and reliability of its equipment, and the strength of its technology portfolio.
The long-lead equipment package includes gyratory crushers, Raptor cone crushers, SAG and ball mills, a pre-leach thickener, screens, apron feeders, KREBS cyclones and pumps, as well as equipment for gold absorption, desorption, refining and detoxification.
In addition to equipment supply, FLSmidth will provide technical support to the engineering, procurement, and construction (EPC) contractor during the detailed engineering phase, along with on-site support for erection, installation, commissioning, start-up, and training. The contract also includes spare parts and performance guarantees for the process equipment.
Azumah Resources described the agreement as a significant milestone for the Black Volta project, signalling the transition from planning to active development and reinforcing investor confidence in the project’s delivery timeline.
FLSmidth is a global full-flowsheet technology and services provider to the mining industry, supporting clients to improve performance, lower operating costs, and reduce environmental impact. The company’s MissionZero strategy targets zero emissions in mining by 2030, underpinned by science-based climate targets and a commitment to carbon neutrality in its own operations by the same year.
Azumah Resources Ghana Ltd is a Ghanaian-incorporated mining company and the holder of the Black Volta and Sankofa Gold Projects in Ghana’s Upper West Region. The company aims to responsibly develop and operate its assets to deliver long-term economic and social value to Ghana.
In October this year, the Ghanaian mining firm E&P announced it had engaged leading global mining companies to collaborate on its recently acquired Black Volta and Sankofa gold concessions. This followed E&P’s completion of a US$100 million payment to the former foreign shareholders of Azumah Resources Ghana Ltd, finalising its takeover of the strategic gold assets.
Among the international partners is SGS Bateman (Pty) Ltd, a renowned engineering firm with more than a century of experience in the design and management of gold-mining and mineral-processing projects worldwide. As the owner’s engineer, SGS Bateman will work with local E&P experts to guide the technical and financial steering committees in evaluating an estimated 1 million ounces of gold from the mine.
The Board of Directors of Azumah Resources Ghana Ltd officially announced on Friday, 17 October 2025, via a statement issued by Chief Executive Officer Noel Nii Addo, that the company is now under new ownership and management following the successful conclusion of negotiations and full settlement by Engineers & Planners.
Speaking at the signing ceremony in Accra, Philimon Okyere Dankwa, responsible for Finance and Sustainability at Azumah Resources, said the involvement of global engineering leaders demonstrated E&P’s commitment to meeting the highest international standards.
Another key partner is FLSmidth, the Danish multinational engineering firm, which has also been engaged as the project’s technology partner. The company will ensure that crushers, processing plants, and other critical infrastructure meet international specifications and will deploy its latest gold-processing technologies to optimise efficiency and output.
E&P said the involvement of SGS Bateman and FLSmidth reflects a “crème de la crème” approach, blending local expertise with world-class knowledge and technology to position the Azumah project as one of Ghana’s leading gold producers.
The move is expected to significantly enhance Ghana’s gold production capacity while creating opportunities for investment, technology transfer and employment in the mining sector.
Mr Addo described the transaction as the final phase of the equity transfer process, cementing the transition of Azumah Resources Ghana Ltd into wholly Ghanaian ownership and control, with prominent Ghanaian businessman Ibrahim Mahama as the beneficial shareholder.
With the completion of the transaction, the Board of Directors has been reconstituted to reflect the new ownership structure. All former foreign directors have formally resigned, and a new Ghanaian management team has assumed responsibility for the company’s operations and strategic direction.
The company said the board and management will immediately engage statutory regulators and relevant third parties to ensure a smooth transition in full compliance with Ghanaian law and mining sector regulations.
Azumah Resources Ghana Ltd reaffirmed its commitment to developing the Black Volta and Sankofa Gold Projects responsibly, transparently and sustainably, with a focus on delivering tangible benefits to the people of the Upper West Region, the Government and people of Ghana, and its shareholder, Engineers & Planners Company Limited.
The new management said it will prioritise local employment, community infrastructure and environmental stewardship as central pillars of its development strategy.
“The conclusion of this transaction and the restructuring of the board mark a defining moment for Azumah Resources Ghana Ltd. We are confident that the new management and shareholders have the capacity, integrity and commitment to advance the Black Volta and Sankofa projects in line with Ghana’s highest standards of governance and sustainability,” Mr Addo said.
