The Ministry of Lands and Natural Resources has dismissed reports alleging the cancellation of a $1.2 billion bauxite lease awarded to Rocksure International in favour of foreign partners, calling the claims false, baseless, and misleading.
In a statement issued on Wednesday, July 30, the Ministry clarified that there was never a valid lease with Rocksure International to begin with.
It explained that although the company was associated with a proposed bauxite agreement, the lease was never ratified by Ghana’s 8th Parliament before its dissolution in January 2025.
Referencing a 2019 Supreme Court ruling, the Ministry stressed that any mining lease not ratified by Parliament is legally void. “
A cancellation cannot exist where there was no valid lease,” the statement emphasised.
The Ministry also rubbished the $1.2 billion valuation of the bauxite deposit that has been widely circulated, describing it as “unsubstantiated and grossly misleading.”
According to the statement, no official valuation has confirmed that figure, suggesting the claim is a deliberate distortion meant to stir public discontent.
Further clarifying the facts, the Ministry outlined the mandate of the Ghana Integrated Aluminium Development Corporation (GIADEC), which was established by law to lead the development of Ghana’s bauxite resources.
GIADEC is tasked with bringing in strategic investors and managing projects like the Western Railway Network, Takoradi Port Expansion, an alumina refinery, an aluminium smelter, and the retrofitting of VALCO for improved efficiency.
The Ministry concluded by reaffirming that all partnerships being explored are aligned with GIADEC’s legal mandate and Ghana’s broader vision to build an integrated aluminium industry.
Myjoyonline
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