Ghanaian tycoon Ibrahim Mahama has strengthened his standing in the countrys mining sector after his firm, Engineers Planners Ltd., completed the takeover of the Black Volta and Sankofa gold projects.
The acquisition followed the transfer of all issued shares from Azumah Resources Ghana Ltd. and Upwest Resources Ltd., according to filings with Ghanas Registrar of Companies. The projects, which hold sizable reserves, had long been stalled by funding challenges that limited progress.
First large-scale locally owned gold mine