Ghana’s economy yesterday received a big boost when the Ghana Integrated Aluminium Development Corporation (GIADEC) signed a strategic deal with RockSure International Limited, a wholly-owned Ghanaian mining company, to develop the Nyinahin-Mpasaaso mine as well as a refinery solution.
This is one out of four projects that GIADEC plans to roll out to achieve the much-needed Integrated Aluminium Industry in Ghana that will create jobs for thousands of Ghanaians.
The four targeted projects are the Expansion of existing mine at Awaso and building of a refinery (Project 1), Development of a mine at Nyinahin-Mpasaaso and a refinery solution (Project 2), Development of a mine at Kyebi, a second mine at Nyinahin-Mpasaaso and building of a refinery (Project 3) and the Modernisation and Expansion of the VALCO smelter to improve efficiency and increase capacity (Project 4).
Launching the projects in Accra yesterday, President Nana Akufo-Addo, said: “I am happy to announce that GIADEC has completed the selection of strategic partner for Project 2 which is the development of the mine- Nyinahin-Mpasaaso with a refinery. This is a significant development and one that brings us closer to realising our plan. Rocksure International, a wholly-owned Ghanaian company is that strategic partner.
“I congratulate warmly Rocksure International on their selection after due process. The choice of a Ghanaian company in a highly competitive process is very pleasing at a time when we are looking for homegrown companies that can compete with the best across the world.
“I am certain that Rocksure International with their demonstrable achievement and track record of excellent delivery will be a credible partner to GIADEC. This choice indeed is a major step forward towards building capacity in Ghana for this industry for a partnership that will ensure we develop a Ghanaian solution that will propel our rapid growth.”
On his part, the Chief Executive Officer (CEO) of GIADEC, Michael Ansah, said “it is anticipated that mining operations, after preliminary works and studies, will commence within 24 months.
“Development of a refinery solution will commence in tandem, with construction timeline estimated at four years. Global trends indicate a growing demand for Aluminium and related products!
“Our mission is timely! And our vision, ‘to be the leading integrated Aluminium Company in Africa’ defines our intent and our bold aspirations. There are challenges ahead – environmental concerns, transportation bottlenecks, the high energy-intensive process of Aluminium production, and the need to develop clean energy solutions. We shall confront these with urgency.
“GIADEC has come a long way in establishing our foundations for growth. What remains is for us to build on these foundations. This is a national agenda, an investment in our collective future, that requires collaboration from all. Together we can, and shall make history.”
He added that the four projects would require private sector-led investments of up to $6 billion – making this one of the most ambitious and audacious industrial development programmes since independence.
GIADEC is a state-owned corporation established by the Ghana Government in 2018 to develop and promote an integrated aluminium industry in Ghana.
It was established through an Act of Parliament in August 2018 to develop and promote a globally competitive Integrated Aluminium Industry in Ghana.
The mandate of GIADEC fits within the Government of Ghana’s Ghana Beyond AID Agenda of reviving the manufacturing industry and adding value to Ghana’s minerals, oil and gas.
This agenda will be driven by an Integrated Aluminium Industry that will utilise and run on the back of Ghana’s bauxite deposits and a petro-chemical industry. (Ghana Beyond AID Charter, 2019).