Rocksure International, has submitted the Mineral Resource Estimate (MRE) results on Nyinahin Block B comprising hills four, five and six in the Ashanti Region to President Nana Addo Dankwa Akufo-Addo.
Rocksure International is the strategic partner selected by the Ghana Integrated Aluminium Development Corporation (GIADEC) for the execution of project two of the Integrated Aluminium Industry (IAI) masterplan.
The MRE, a key component of the development of the whole IAI in the country, estimates a significant bauxite deposit of more than 375,000,000 metric tonnes in the three hills 4, 5, and 6 of the Nyinahin hills, 50 per cent more than the initial 250,000,00 metric tonnes estimated.
With the MRE completed and official estimates of the volumes of bauxite in that area, GIADEC and its partner, Rocksure are set to commence with the processes for a mining lease from the Minerals Commission, cabinet approval and subsequent Parliament approval.
It also sets the stage for the development of the project 2 of the IAI masterplan which comprises the establishment of a mine and refinery solutions at Nyinahin.
Receiving the MRE at the Jubilee House in Accra yesterday, President Akufo-Addo commended GIADEC and its partner, Rocksure for successfully undertaking and completing the resource audit.
He said the whole IAI masterplan, aligned with the government’s agenda of adding value to the country’s vast mineral resources, key amongst them being bauxite resources.
“This is exceptionally good news today. I congratulate all of you involved in this very important step for the country that is being taken. I will continue to provide you with the maximum support that you need to make sure that this whole thing becomes a reality,” he emphasised.
President Akufo-Addo said the MRE results represented the first-ever of such, adding that this departs from the historical estimates and projections.
He said the scientific manner in which the MRE had been conducted would create a positive impact on investor confidence and bring credibility to the whole agenda of IAI development.
On his part, the Chief Executive Officer of GIADEC, Mr Michael Ansah, thanked the President for his support and stated that GIADEC, in collaboration with its partners, would conduct similar MRE’s in other operational areas of the Corporation before the commencement of any mining activity.
He explained that results from the MRE showed a significant increase in the quantity of bauxite resources historically estimated to be in the Nyinahin area, adding that the MRE results also validated the quality of bauxite resources found in the area.
“Historically we estimated that we had in the region of 250MMT of bauxite deposits in the three hills we are talking about, that is hills 4,5 and 6. Following the work that we have done now, we have been able establish that we have a minimum of 375MMT of bauxite in those three hills, so a 50 per cent appreciation on the historical figures”.
Mr Ansah also revealed that GIADEC would in the coming weeks, announce a reputable European firm that would partner with the corporation to execute Project 3A of the IAI Projects which was the “development of a mine in Nyinahin Block C and construction of a refinery.
On his part, the CEO of Rocksure International, Mr Kwasi Osei Ofori, said the completion of the MRE gave credence to the President’s call that when given the chance, Ghanaian companies could compete with their peers globally.
In September, 2021, GIADEC announced the selection of Rocksure International, a wholly Ghanaian owned company, as its strategic partner for Project 2, one of four projects that define the Integrated Aluminium Industry (IAI), being executed by GIADEC.
Rocksure International was selected after a rigorous competitive three-round investor engagement process in 2019. Following the announcement, the company commenced a Mineral Resource Estimate (MRE) in Nyinahin Block-B, specifically Hills 4, 5 & 6 to validate and define the bauxite resources.
Ghana’s bauxite resources are estimated to be around 900MMT. The validation of the bauxite resources in parts of the Nyinahin area through an MRE is the first time Ghana is taking steps to validate all of its bauxite resources across the country.
BY CLIFF EKUFUL
