Azumah Sources Ghana Restricted has dismissed as baseless and deceptive claims made by Engineers & Planners (E&P) relating to funding commitments for the Black Volta Gold Undertaking.
The corporate insists that E&P did not show the monetary capability crucial for such a important nationwide endeavor.
In a press release signed by John Mason, spokesperson for Azumah Sources, the corporate described E&P’s latest public claims as “not supported by legislation or by truth.”
Mr Mason said, “Once we sought to maximise the involvement of Ghana firms, E&P supplied to supply greater than $250 million in funding, however to this point has solely managed to supply $4 million.”
Azumah Sources is shifting ahead with the event of the mine in Ghana’s Higher West Area with the backing of seasoned worldwide traders.
“We’re very lucky to have secured the monetary assist of worldwide traders which have already developed greater than $10 billion of mines globally, and they’ll assist the development of this mine,” Mr Mason stated.
He emphasised that Azumah stays dedicated to working with “respected and hardworking, law-abiding Ghana firms and traders.”
“We is not going to be distracted by noise,” he added.
“We stay targeted on lawful growth, on transparency, and on constructing Ghana’s future in partnership with the Authorities of Ghana and in the most effective pursuits of our individuals.”
Rob Cicchini, Undertaking Director of Azumah Sources, questioned the credibility of E&P’s capability to guide the mine’s growth.
“The way forward for this mission needs to be within the palms of those that can ship—not those that can not,” he stated.
“A sale to E&P, and not using a demonstrated means to fund the complete growth of the Black Volta Gold Undertaking, wouldn’t be in Ghana’s nationwide curiosity.”
Mr Cicchini famous that E&P had already proven over a number of years that it lacks “ample sources to fund the event.”
He warned that with out full funding, “Ghana would endure. Native communities would endure. Jobs could be misplaced. Progress would stall.”
Azumah Sources additional clarified that E&P “has but to supply any formal provide… both to help in funding the Black Volta Mine or investing in Azumah.”
The corporate additionally confirmed that E&P doesn’t maintain any shares in Azumah.
Reacting to E&P’s latest public marketing campaign, Azumah stated it was “very disenchanted” by the deceptive statements being made.
“Their statements are seen to mining firms all over the world and severely affect their worldwide standing as a Ghanaian firm.”
Whereas Azumah famous E&P’s reported entry to funds from worldwide banks, Mr Mason stated the corporate “seems ahead with nice curiosity to receiving any provide of funding from E&P” however added that every one public statements made will probably be thought-about in evaluating any future potential transaction.
Azumah Sources urged stakeholders to “disregard this week’s staged occasion and any associated claims,” asserting that the continued dispute needs to be resolved by worldwide arbitration and never by media stunts.”
The corporate reaffirmed its dedication to the rule of legislation and its willingness to have interaction with regulators, monetary establishments, traders and the Ghanaian public straight.
“We stay absolutely accessible to our companions, regulators, and the general public to supply correct data,” Mr Mason stated, including that Azumah Sources “will pursue all accessible treatments within the arbitration and reserves all rights to guard its pursuits and the Black Volta Gold Undertaking.”
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