The mining company founded by Ibrahim Mahama is contesting enforcement of an ICC interim award in London, with a final ruling expected in September 2026
Engineers & Planners, the mining company founded by Ibrahim Mahama, is fighting efforts to enforce an international arbitration award over ownership and control of the Black Volta and Sankofa gold concessions in Ghana’s Upper West Region, a dispute now centred on a $100 million deal the two sides describe very differently .
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The matter is before the International Chamber of Commerce in London, with a final ruling expected in September 2026 . Court documents from the High Court of Justice in England and Wales, dated 8 June 2026, indicate the court granted permission for an interim award issued by the ICC tribunal in October 2025 to be enforced as if it were an English court judgment . The order states that E&P had “failed to comply with the Interim Award.” E&P was also ordered to pay legal costs of £33,309.86 . The company has instructed its lawyers to contest the enforcement order .
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The dispute stems from a proposed acquisition of the Black Volta project in 2023. E&P maintains that it acquired the right to buy the project for $100 million following discussions with shareholders of Azumah Resources, the company that holds the concessions . Azumah’s investors dispute that, arguing the proposed transaction did not satisfy agreed conditions, was never properly authorised, and therefore did not result in a valid transfer of ownership . E&P has rejected any suggestion that it is unlawfully occupying or operating the concessions .
The arbitration involves investors led by the private equity firm Ibaera Capital, whose representatives maintain that the tribunal’s interim orders require E&P to give up control of the disputed assets until the case is finally determined . Last July, E&P announced it had secured a $120 million facility from a regional development bank to support the acquisition .
In a statement issued on Thursday, July 9, Azumah Resources Ghana rejected reports suggesting E&P had failed to comply with a court order . There is no order by any Arbitration Tribunal or High Court ordering that the Black Volta Project be handed over to the former investors,” the company said . Azumah acknowledged that the former investors had obtained an ex parte enforcement order from the High Court in England but said the order is currently being challenged by E&P and is not enforceable until that application has been determined .
The dispute comes as Ghana pushes through some of the deepest changes to its mining sector in a generation. Earlier this year the government took control of the Damang Mine after the operating lease held by Gold Fields expired, and awarded it to E&P through a competitive tender . The award drew opposition claims of favouritism, which the government has rejected . Government spokesperson Felix Kwakye Ofosu said President John Dramani Mahama, whose brother founded E&P, stepped aside from the Cabinet deliberations on the lease to avoid any conflict of interest .
According to a report by Accra Street Journal, two of the country’s biggest mines face the same test next. Gold Fields is awaiting a decision on renewing the leases covering its Tarkwa Mine, while AngloGold Ashanti is preparing to renew the lease for its Iduapriem Mine . Both leases expire in 2027 . The Minerals Commission has signalled that renewals will no longer be routine and will turn on how much economic value a company creates for Ghana .
Source: Accra Street JournalÂ
Last Updated on July 10, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
