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Ghanaian businessman Ibrahim Mahama has taken another concrete step toward bringing the Black Volta gold project into production, signing a $37 million equipment supply agreement just weeks after completing a $100 million acquisition of Azumah Resources Ghana Ltd.
Azumah Resources, now backed by Mahama’s Engineers & Planners Group, has entered into a contract with Danish mining technology firm FLSmidth to supply critical processing equipment for the project, located in Ghana’s Upper West Region. This initiates the on-site development work and removes a significant obstacle to the company's goal of first gold production by 2027.
Mine processing equipment delivery set 2026
Mahama attended the signing ceremony, underscoring the importance of the deal as Azumah moves from planning into execution. Under the agreement, FLSmidth will deliver long-lead items including gyratory crushers, SAG and ball mills, screening systems, pumps, and refinery equipment required for the mine’s processing plant.
The supplier will also provide engineering support, installation oversight, commissioning services and on-site training. Delivery of the equipment is scheduled for 2026, ahead of the planned start-up. The manufacturing timeline for some of the components stretches to about 46 weeks, making early payment necessary to keep the project on schedule.
Gold production begins 21 months after delivery
Azumah Resources director Noel Nii Addo said the company picked FLSmidth because of its long track record in mining equipment and process technologies. He said the agreement signals Azumah’s transition toward large-scale commercial production. The initial order, he noted, is valued at $37 million and covers both equipment and associated technical services.
Addo said the supplier will also support the project’s EPC contractor during installation and commissioning and provide performance guarantees for key processing equipment. He added that commercial gold production is expected to begin 21 months after delivery, with the project expected to create 1,700 long-term jobs, particularly for communities around the Wa area.
The Black Volta mine is expected to have an initial life of about 11 years. Addo said only about 20 percent of the concession has been explored so far, leaving room for further drilling that could extend production and support local development over time.
Mahama builds mining empire in Ghana
This builds on Mahama’s $100 million acquisition of Azumah Resources in October, a move that gave Engineers & Planners control of gold concessions that had remained largely undeveloped for years. Known for building one of Ghana’s largest indigenous engineering and construction firms, Mahama has steadily expanded into mining and energy over the past decade.
Founded in 1997, Engineers & Planners has grown into a major regional contractor providing equipment leasing and civil engineering services to mining companies across Ghana, Liberia and Sierra Leone. The group employs more than 4,000 people and has worked alongside several international operators. For Mahama, the Black Volta project represents a shift from service provision to asset ownership, positioning his group deeper within Ghana’s gold industry at a time when local participation is becoming a bigger focus for policymakers and investors.
