THE Ghana Integrated Aluminium Development Corporation (GIADEC) and RUSAL, one of the world’s largest aluminium producers, have signed an agreement for the development of a bauxite mine and a 1.2-million-tonne-per-year alumina refinery at Nyinahin in the Ashanti Region.
The agreement, signed in Moscow during the Russia-Africa Forum, requires RUSAL to finance and construct the refinery, which is expected to cost more than $1.5 billion and take about 36 months to complete.
The project will use bauxite from the Nyinahin deposit and natural gas to produce alumina. It is expected to involve the mining of about five million tonnes of bauxite annually for processing into 1.2 million tonnes of alumina.
The development will be undertaken through two joint ventures — Nyinahini Bauxite Ltd and Ghana Alumina Company — with RUSAL providing the project financing and holding majority stakes in both companies.
The agreement forms part of Ghana’s plans to develop an integrated aluminium industry and process its bauxite domestically.
A RUSAL spokesperson said the agreement was an important step in the company’s strategy to strengthen its raw material base and establish an integrated production chain in Ghana.
“Ghana has some of the largest undeveloped bauxite reserves in West Africa, and we see an opportunity to establish an integrated production chain here — from mining five million tonnes of ore per year to producing 1.2 million tonnes of alumina,” the spokesperson said.
The spokesperson said RUSAL’s more than 20 years of experience in Africa would support the implementation of the projects from the design stage through to full production. Read More
BY TIMES REPORTER
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