Els: MBN360 Extractives/Energy
Mineral exploration geologist Elvis Gota, has projected that the Black Volta Gold Project, a mineral asset in Ghana’s Upper West Region, holds a staggering potential of 2.8 million ounces of gold.
This revelation, spearheaded by mineral exploration geologist, underscores the project’s capacity to redefine the country’s mining map.
With an initial projected annual production of approximately 150,000 ounces, the site is poised to become a cornerstone of Ghana’s extractive industry, transitioning from an underexplored frontier into a high-yielding gold belt.
“The Black Volta Gold Project is reported through a geological system that aligns with international standards. These standards ensure that any serious mining exploration company can certify that the reserves are genuine. There is very high potential to substantially increase the defined resources.”Elvis Gota
The project spans a vast, largely untapped terrain of 934 square kilometres, making it the largest gold belt in West Africa nearly twice the size of Dubai. Recently acquired by Engineers & Planners Ltd., the venture is being developed through a strategic partnership with indigenous firm Azumah Resources.
Geologists note that the current 2.8-million-ounce estimate is conservative, as it only accounts for resources defined to a depth of 300 metres.
The “forward-looking plan” involves drilling deeper and exploring the remaining 80% of the concession, suggesting that the resource base is highly likely to grow as site preparation and infrastructure works advance toward a planned gold pour within the next 21 months.
A New Frontier for Northern Economic Transformation
The emergence of the Black Volta Gold Project represents a strategic shift from the traditionally saturated southern gold belts to the “new frontier” of the north.
This geographical diversification is expected to “uplift the entire Wa area” by decentralizing industrial wealth and infrastructure.
Beyond the primary mineral value, the project is slated to create approximately 1,700 sustainable jobs, offering long-term career paths for residents rather than temporary labor.
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This influx of stable employment will likely stimulate the local economy, driving demand for services and local procurement that supports regional SMEs.
Strengthening National Output and Fiscal Stability
From the perspective of macroeconomic, the project’s 11-year initial mine life serves as a critical buffer for Ghana’s national gold output.
As the country maintains its position as Africa’s second-largest gold producer, adding 150,000 ounces annually will significantly bolster export revenues and foreign exchange reserves.
Furthermore, the involvement of indigenous firms like Engineers & Planners and Azumah Resources ensures that a larger share of the “mining dollar” remains within the domestic economy.
This “fully Ghanaian-owned” initiative, backed by a US$37 million technology deal with FLSmidth, signals a new era where local expertise and capital drive the extraction of national resources.
Geological Longevity and Investment Appeal
The technical allure of the Black Volta Project lies in its “simple” open-pit mining profile and a high gold recovery rate of over 91%.
For investors and extractive experts, the project’s appeal is magnified by its location within the Birimian greenstone belt, a geological formation known for orogenic gold deposits that “extend to great depth.”
With only 20% of the concession explored, the mine provides a low-risk, high-upside opportunity.
As exploration continues alongside active mining, the project is not just a 2.8-million-ounce win but a long-term anchor for Ghana’s extractive sector, ensuring that the “deep rich vein” of the Black Volta Basin finally yields its value to the state.
