GIADEC woos investors

The Chief executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah, has expressed the readi­ness of GIADEC to partner with global industry players to push the country’s Integrated Aluminium Industry forward.

To this end, he said any entity with the financial and techni­cal capability that shared in the vision of the country’s quest to establishing a comprehensive IAI was welcome to do business with GIADEC.

During an investor engagement session with the African Selection Group (ASG), Mr Ankrah high­lighted that GIADEC requires more than $6 billion to fully de­velop the aluminium value chain.

He pointed out that due to the current economic situation in Ghana, the Corporation could not rely solely on central government funding. Therefore, GIADEC is actively seeking partnerships with suitable investors committed to the IAI.

On his part, John Kamara, the Managing Director of ASG, emphasized that ASG’s vertically integrated business model was well-aligned with GIADEC’s approach.

He expressed ASG’s keen interest in Ghana’s aluminium value chain, particularly in the retrofitting and modernisation of the VALCO smelter.

Mr Kamara further noted that ASG was prepared to make the necessary capital investment in the short to medium term and implement a strategic plan in two phases to enhance VALCO’s ef­ficiency and boosting its produc­tion capacity from 60,000 to over 300,000 metric tonnes annually.

According to him, Phase 1 will involve upgrading production facilities and capacity expansion, implement energy efficiency mea­sures and technological upgrades and mordernise the potlines and supporting infrastructure, to enhance energy efficiency and operational stability.

Phase 2 will see the construc­tion of an in-country alumina refinery, ensuring a stable and cost-effective supply of alumina to VALCO while reducing depen­dence on imported alumina to feed the VALCO plant.

Mr Kamara also emphasized that ASG intended to adopt advanced, sustainable refining processes to offer significant environmental and operational benefits over the traditional Bayer process.

Regarding power supply, Mr Kamara noted that ASG would explore innovative technologies and alternative energy sources within Ghana’s energy mix to ensure a reliable and cost-effective power supply to sustain opera­tions.

The ASG delegation also included David Woodall, Group Operating Director, Wayne Apt­ed, Chief Financial Officer, and Quinton Charaud, member of the Finance Team.

African Selection Group (ASG) is an African focused diversified natural resources group building a portfolio of metals and mining assets across the entire value chain in Africa.

ASG’s strategy is to work a fully-funded pipeline of vertically integrated metal and mining proj­ects integrated with a mine-to-market model, leveraging down­stream capabilities and in-house marketing expertise.

ASG has successfully imple­mented mine-to-market models for tier-1 players in the EMEA and possesses extensive expertise in in-country risk management.

 BY CLIFF EKUFUL