The dispute involves Engineers & Planners (E&P), owned by President John Mahama’s brother Ibrahim Mahama, and gold developer Azumah Resources, backed by Australia-Singapore private equity firm Ibaera Capital.

E&P initiated proceedings in October 2024, alleging Azumah violated a 2023 development agreement that granted E&P early-phase project rights in exchange for equity options. Azumah terminated the contract in December 2024, citing E&P’s failure to secure financing, finalize engineering contracts, or commence site work. The developer filed a $100 million counterclaim accusing E&P of contract breaches, fund misappropriation, and unauthorized dealings.

Simultaneously, E&P and Ibrahim Mahama have sued Ghanaian policy analyst Bright Simons for defamation in an Accra court. The lawsuit targets Simons’ article linking E&P’s financial strain to suspended operations at Damang gold mine and suggesting political influence over mining policy. Plaintiffs denounce the claims as “false, malicious, and defamatory.”

A London-based ICC tribunal chaired by Nigeria’s Funke Adekoya SAN is hearing the case, with co-arbitrators from Ghana and the UK. Legal teams include Accra’s Robert Smith Law Group for E&P and London/Ghanaian firms for Azumah.

The Black Volta project—among Ghana’s newest gold developments—faces delays due to the dispute. Azumah has independently commenced construction despite the arbitration. The outcome will determine contractual liabilities and shape the future of this strategically significant mine in Ghana’s northwest.