GIADEC, Mytilineos partnership signals promising future for Ghana’s Aluminum Industry


By Kizito CUDJOE

The Asantehene, Otumfuo Osei Tutu II, lauded the selection of Mytilineos S.A by Ghana Integrated Aluminium Development Corporation (GIADEC) as a monumental stride towards fostering an Integrated Aluminium Industry (IAI) in Ghana.

Mytilineos, a prominent global metallurgy and energy entity listed on the Athens Stock Exchange, has emerged as the strategic partner for developing segments of Nyinahin bauxite resources and establishing a refinery.

During a visit to Manhyia Palace in Kumasi to introduce Mytilineos, Asantehene expressed enthusiasm for GIADEC’s initiative to cease raw bauxite exports, advocating instead for local alumina refinement.

He stressed the potential for job creation and industrial growth through the comprehensive development of the bauxite value chain, encompassing mining, refining, smelting, and aluminum production.

Asking Mytilineos to engage local artisanal talent and sub-contractors, Otumfuo emphasized community involvement and responsible, safe operations. He pledged full support for the successful execution of Project 3A.

The Chief Executive Officer of GIADEC, Mr. Michael Ansah, expresthanked the Asantehene for his continuous support for all the projects being executed under the organisation’s Integrated Aluminium Industry (IAI) masterplan, particularly those in Ashanti.

He emphasized that GIADEC’s vision is to ensure that all aspects of the bauxite value chain are developed, and a fully integrated aluminium industry established in Ghana.

Mr. Ansah said Mytilineos had a strong commitment to the highest global standards of environmental sustainability and governance (ESG) excellence.

Mytilineos was selected through a transparent and competitive three-round investor engagement process, launched by GIADEC in 2019, that attracted interest from approximately 40 companies from across the world.

President Nana Addo Dankwa Akufo-Addo in his speech at the 67th independence day celebrations, said GIADEC is one of the key organisations that would make “a great difference to the economic fortunes of Ghana.”

Mr. Ansah noted that the President’s remarks were justified as the bold steps being taken by GIADEC would position Ghana to take full advantage of the surge in the global demand for aluminium and related products.

Administrative Director of Mytilineos, Dimitrios Kakarouchas, thanked the Asantehene for his support and assured Otumfuo of their readiness to commence operations starting with the prospecting phase where Mytilineos will be undertaking Mineral Resource Estimates (MRE) to establish the bauxite quantities.

He also pledged their commitment to ensuring environmental sustainability and social responsibility.

Kakarouchas said “at Mytilineos, we prioritize creating value for all stakeholders. Our involvement in Ghana’s energy sector has deepened our understanding of the local environment and people. We are expanding into metals, guided by a commitment to environmental sustainability and social responsibility.”

“Our initiatives aim to empower local communities, create over 1,500 quality job opportunities and stimulate economic activity. We are also dedicated to preserving the natural beauty of the region for future generations. We look to the future with optimism and determination. Together we will build a brighter, more prosperous and sustainable future for all” he added.

GIADEC’s IAI Masterplan involves four key projects:

Project 1 – Expansion of existing mine at Awaso and building of a refinery

Project 2 – Development of a mine at Nyinahin-Mpasaaso and a refinery solution

Project 3 – Development of a mine at Kyebi, a second mine at Nyinahin-Mpasaaso, and building of a refinery

Project 4 – The modernisation and expansion of the VALCO smelter to improve efficiency and increase capacity

The delegation from GIADEC included Deputy CEO, Akwasi Osei-Adjei and other managers and senior managers of the Corporation as well as senior executives of Mytilineos.

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