The Ghana Integrated Aluminium Development Corporation (GIADEC), established by an Act of Parliament, the Ghana Integrated Aluminium Development Corporation Act, 2018 (Act 976), to develop and promote a globally competitive Integrated Aluminium Industry (IAI) in Ghana has announced plans to establish a bauxite mine with a refinery to process bauxite locally.
The proposed aluminum refinery would enable GIADEC and its strategic partner for Project 2, Rocksure International, a wholly Ghanaian company, to refine the millions of tons of bauxite discovered in the Nyinahin-Mpasaaso forest and maximise profits from exploration.
As a result, GIADEC and Rocksure International are looking for external partners for the development of the refinery.
The proposal follows the successful conduct of a Mineral Resource Estimate (MRE) on the Nyinahin Block B Hills (Hills 4, 5 and 6) of the Nyinahin Hills in the Ashanti region.
Mr. Michael Ansah, Chief Executive Officer of GIADEC, announced these plans when he briefed the Asantehene, Otumfuo Osei Tutu II on the MRE report at the Manhyia Palace on Wednesday.
Mr. Ansah was accompanied by Mr. Kwasi Osei Ofori, the CEO of Rocksure International and executives of both partner companies.
He told the Asantehene that the proposal followed the realisation, upon the MRE, that bauxite deposits in the three Hills at Nyinahin are estimated to be 375 million metric tonnes, an increase from the original 250 million metric tonnes. Otumfuo also heard that the MRE results had affirmed the quality of bauxite resources found in the area.
Mr. Ansah said the processes for the construction of the refinery in Ghana will begin in 2024.
Ghana’s bauxite resources are estimated to be around 900 million metric tonnes which deposits are concentrated mainly in three areas namely Awaso in the Western-North region with 60 million metric tonnes, Kyebi in the Eastern region with 160 million metric tonnes and Nyinahin in the Ashanti Region with the highest bauxite resources of 700 million metric tonnes.
The Asantehene registered his appreciation that the project was eventually taking off in his lifetime and proposed that the Nyinahin project be christened Ashanti project to inspire indigenes.
He commended the effective collaboration between the partners which had resulted in the success story so far.
While pledging his support for the project, Otumfuo also reminded the development partners of the project to conduct their operations in a responsible manner by observing best mining practices.