A high-stakes legal dispute between two Ghanaian companies over the Black Volta gold project has escalated to the International Chamber of Commerce (ICC), with claims and counterclaims now exceeding US$100 million.
At the centre of the conflict is a terminated development agreement between Engineers & Planners (E&P), a construction firm owned by Ibrahim Mahama, brother of President John Mahama and Azumah Resources, a gold developer backed by Australia- and Singapore-based private equity firm Ibaera Capital.
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