Ghana to replace local bauxite mining company with global one

Описание: The Ghanaian government has nixed the $1.2 billion bauxite mining agreement with indigenous company Rocksure International, citing a failure of ratification by parliament. Rocksure International is primarily owned by its founder and CEO Kwasi Osei Ofori. As reported by Reuters, the original agreement called for Rocksure to have a 70% share of the Asante Bauxite Company joint venture, the Ghana Integrated Aluminum Development Corporation (GIADEC) a 20% share, and the Ghanaian government the remaining 10% share. GIADEC is owned by the Ghanaian government. GIADEC is in the advanced stage of negotiations with Dubai-based Emirates Global Aluminum (EGA) and several Chinese companies. According to Discovery Alert, the project under consideration is the Nyinahin Hills deposit in the Ashanti Region, which contains an estimated 376 million tons of bauxite reserves. Ghana has an estimated 900 million metric tons of bauxite (the material used to manufacture aluminum), the seventh-largest reserves in the world. GIADEC has pivoted toward global aluminum companies from Rocksure to benefit from technical expertise, capital investment, and market access. Unlike the second-largest bauxite producer in the world, Guinea, Ghana plans to add value to its bauxite instead of export it as a raw material. Refined alumina commands significantly higher prices than raw bauxite if processing capabilities are developed while smelted aluminum increases the economic benefits further if smelting capabilities are developed. To acquire an integrated bauxite value chain, Ghana must construct mining facilities, a railway, port facilities, and a refinery, a total investment of over $3 billion. Meanwhile, demand for aluminum continues to rise, driven by the construction, transportation, and renewable energy sectors. GIADEC plans to begin extraction at Block B of the Nyinahin Hills deposit in the first quarter of 2026.

Sources
Ghana cancels $1.2 billion bauxite deal, eyes global partnership, sources say
Reuters
Ghana Cancels $1.2 Billion Bauxite Deal, Eyes Global Partnerships
Discovery Alert