Efforts to develop the nation’s Integrated Aluminium Industry (IAI) have received a major boost following the successful selection of a strategic partner that will partner the Ghana Integrated Aluminium Development Corporation (GIADEC) to develop one of four projects being executed under the IAI value chain.
President Akufo-Addo witnessed signing of the agreements between the two parties at a brief event held in Accra, and noted that the IAI remains an integral part of his government’s industrialisation agenda. The president stressed that his government will ensure that implementation of the IAI – which will involve mining, refining and smelting – is carried out in a responsible manner.
“We believe that mining can be and must be done in a responsible manner. Government through its regulatory agencies will act to protect our environment at all times,” he said.
The president also launched GIADEC’s four-project agenda for the Integrated Aluminium Industry, and further commended the corporation for working assiduously to select Rocksure International as its partner after a transparent, competitive and rigorous investor engagement process – adding that his government will continue to create the enabling environment needed to attract more investors to venture into the industry.
President Akufo-Addo was particularly excited that Rocksure International is a wholly Ghanaian-owned company, and stressed that the decision further demonstrates his commitment to the promotion of local content and local participation.
The Minister of Lands and Natural Resources, Samuel Abu Jinapor, speaking at the event pledged the support of his ministry in ensuring that government’s vision of a fully operational and globally competitive IAI is realised.
Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation, Mr. Michael Ansah, on his part emphasised that the agreement will culminate in a joint venture partnership between GIADEC and its new partner Rocksure International to build a mine at Nyinahin-Mpasaaso and a refinery solution.
The project, also referred to as Project 2, according to him is one of the four (4) projects GIADEC is currently executing. He identified the other three projects – which include the expansion of existing mine at Awaso and building a refinery as Project 1; the development of a mine at Kyebi, a second mine at Nyinahin-Mpasaaso and building of a refinery as Project 3; and the modernisation and expansion of the VALCO smelter as Project 4.
Mr. Ansah stressed that Rocksure International will first undertake a Mineral Resource Estimate (MRE) to validate and define the bauxite reserves, leading to the construction of a mine and a refinery solution. According to him, the lifetime of the mine is estimated to span over six decades and create over 1,000 direct and indirect jobs.
He reiterated that the four projects will be private sector-led and be executed in partnership with key strategic investors – which will require a US$6billion investment.
The real impact of an Integrated Aluminium Industry, according to Mr. Ansah, will be felt at the downstream sector where demand for aluminium and aluminium-related products are expected to rise; especially with the establishment of various car manufacturing plants in the country. This value-addition drive will not only result in a thriving local economy but also significantly cut down on the importation of aluminium and aluminium products, he added.
Also present at the event were Members of Parliament for the proposed mining areas, and representatives of some government institutions, board members of GIADEC, traditional leaders from communities where the mines and refineries will be situated and other stakeholders.