Azumah Resources Ghana has officially started construction of the Black Volta gold mine in Ghana's Upper West Region.
Led by Ghanaians and supported by local and international investors, the company is moving forward with full-scale development after securing project financing from its shareholders.
Through a collaboration with the Ministry of Lands and Natural Resources and the Minerals Commission, Azumah ensures all regulatory authorisations are in place for seamless execution.
The company has initiated preparatory works on site, with plans to advance infrastructure, civil works, and recruitment processes.
The mine is anticipated to have a profound impact on the socioeconomic landscape of the Upper West Region and Ghana as a whole.
The construction phase is expected to generate over 1,000 jobs, with hundreds more permanent roles following the start of operations.
However, the project faced setbacks, including Engineers & Planners (E&P) failure to complete civil works and legal challenges that disrupted the original timeline.
The company is expected to announce a formal ground-breaking ceremony in collaboration with the Ministry of Lands and Natural Resources.
Azumah Resources project director Rob Ciccini said: “We are extremely pleased that our existing shareholders have reconfirmed their long-term commitment to Ghana and the construction of the Black Volta Project.
“Since terminating our agreement with Engineers & Planners Co. Limited, we have worked closely with our shareholders, the Government of Ghana, the Ministry of Lands and Natural Resources and the Minerals Commission to ensure the continued success of the Black Volta Project. Those efforts mean that we are now in the position to make today’s announcement and to proceed with construction at pace without E&P.”
In a related development, the gold industry in Ghana has encountered a significant trade discrepancy, resulting in a presumed $11bn (approximately 112.99bn cedis) shortfall attributed to the illicit export of gold.
It is suspected that a considerable portion of this contraband gold ends up in the United Arab Emirates, with Dubai being the primary destination.
