Bauxite deposits in the Nyinahin Block-B hills in the Ashanti Region are 50% higher than what has been estimated.
This is the outcome of the first ever Mineral Resource Estimate (MRE) undertaken by the Ghana Integrated Aluminium Development Corporation (GIADEC), in collaboration with Rocksure International as the strategic partner.
According to GIADEC and Rocksure International, the scientific appraisal, using modern technology, indicated that the three hills – four, five and six – held a minimum of 375 million metric tonnes of bauxite.
Previous studies had estimated 250 million metric tonnes of bauxite deposits in the said locations in Nyinahin.
On Tuesday, November 14, 2023 a delegation from GIADEC, Rocksure International, led by the Deputy Minister for Lands and Natural Resources, George Mireku Duker, called on President Akufo-Addo at Jubilee House and submitted the result of the MRE to him.
INCREASE
The Chief Executive Officer of GIADEC, Mr. Michael Ansah, addressing the President, thanked him for his support.
According to him, the results from the MRE showed a significant increase in the quantity of bauxite resources, historically estimated to be in the Nyinahin area.
Mr. Ansah further added that the MRE results also validated the quality of the bauxite resources found in the area.
“Historically, we estimated that we had in the region of 250 MMT of bauxite deposits in the three hills we are talking about, that is, hills 4,5 and 6.
Following the work that we have done now, we have been able to establish that we have a minimum of 375 MMT of bauxite in those three hills, so a 50 percent appreciation of the historical figures,” he said.
He told the President that GIADEC would, in the coming weeks, announce a reputable European firm that would partner with the corporation to execute Project 3A of the IAI Projects, which was the “development of a mine in Nyinahin Block C and the construction of a refinery”.
Meanwhile, he noted that GIADEC, in collaboration with its partners, would conduct similar MRE’s in other operational areas of the corporation before the commencement of any mining activity.
GOOD NEWS
President Akufo-Addo, in his remarks, commended GIADEC and its partner, Rocksure, for successfully undertaking and completing the resource audit. He told the delegation that they had come with good news.
The President indicated that the whole IAI master plan was aligned with the government’s agenda of adding value to the country’s vast mineral resources, key amongst them being bauxite resources.
“This is exceptionally good news today. I congratulate all of you involved in this very important step for the country that is being taken. I will continue to provide you with the maximum support that you need to make sure that this whole thing becomes a reality,” he said.
Akufo-Addo continued, “I think that if we are able to do that, it will completely justify our thinking, the whole GIADEC concept of using a state vehicle that will bring together the bauxite resources in the country under one roof and therefore strengthen the hand of the entity to enter into such transactions.”
He said the MRE results depart from the historical estimates and projections, adding that the scientific manner in which the MRE had been conducted would create a positive impact on investor confidence and bring credibility to the whole agenda of IAI development.
On his part, the CEO of Rocksure International, Mr. Kwasi Osei Ofori, said the completion of the MRE gave credence to the President’s call that when given the chance, Ghanaian companies could compete with their peers globally.
The Deputy Minister for Lands and Natural Resources, Mr. George Mireku Duker, assured GIADEC and Rocksure of the Ministry’s continuous assistance and support towards the development of the Integrated Aluminium Industry.
BACKGROUND
In September 2021, GIADEC announced the selection of Rocksure International, a wholly Ghanaian-owned company, as its strategic partner for Project 2, one of four projects that define the Integrated Aluminium Industry (IAI) being executed by GIADEC.
Rocksure International was selected after a rigorous competitive three-round investor engagement process in 2019. Following the announcement, the company began a Mineral Resource Estimate (MRE) in Nyinahin Block-B, specifically Hills 4, 5, and 6 to validate and define the bauxite resources.
Ghana’s bauxite resources are estimated to be around 900 MMT. The validation of the bauxite resources in parts of the Nyinahin area through an MRE is the first time Ghana is taking steps to validate all of its bauxite resources across the country.
