Ibrahim Mahama secures 100 million deal to finance acquisition of the Black Volta Gold Project, aiming to establish Ghanas first large-scale, locally owned gold mine.
The project marks a shift toward increased Ghanaian control of mineral resources, moving away from dominance by multinational mining companies.
Despite past legal disputes, Mahamas Engineers Planners regains momentum with institutional backing to reshape Ghana's mining industry from within.
Ghanaian businessman Ibrahim Mahama has taken a major step toward setting up the countrys first large-scale, wholly indigenous gold mine. Through his mining and construction firm, Engineers Planners E P, Mahama signed a 100 million acquisition facility agreement on Monday, July 7, to finance the purchase of the Black Volta Gold Project in north-western Ghana.
The deal supports a broader plan to increase Ghanaian ownership in the countrys extractive industry. Spanning over 934 square kilometers under mining and exploration licenses, the Black Volta Gold Project is one of the largest gold exploration positions in Ghana not controlled by multinational mining companies.
Ghana asserts control over mining sector
For E P, this marks a commitment to reshaping how Ghana participates in the mining sector, not as a host to foreign interests but as a driver of its own development. Ghanaian business leader Sam Jonah welcomed the announcement, describing the deal as a commercially sound and credible business transaction. He stressed that the projects significance goes beyond businessit represents a long-overdue shift in control over the nations mineral wealth.