Support GIADEC to develop aluminum industry – Asantehene
The Asantehene, Otumfuo Osei Tutu II has called for support for the operations of the Ghana Integrated Aluminium Development Corporation (GIADEC) to enable it develop an aluminum industry for the country.
He said the potential for the Integrated Aluminium Industry (IAI) to develop the country’s economy could not be over emphasised, as such the government must commit the needed resources to support its development.
Otumufuo Osei Tutu II made the call when a delegation from GIADEC and Rocksure paid a courtesy call on him at Manhyia in Kumasi on Friday.
The visit was also to present the Mineral Resource Estimate (MRE) jointly conducted by GIADEC and Rocksure International on parts of the Nyinahin Hills to him.
The Asantehene emphasised that the availability of the certified MRE results would attract the investment needed to drive the Integrated Aluminium Industry.
He was full of praise for the Chief Executive Officer of GIADEC, Mr Michael Ansah and Chief Executive Officer of Rocksure International, Mr Kwasi Ofori, for their commitment towards the execution of Project two that was (Development of a mine in Nyinahin-Mpasaaso with a refinery solution) and pledged his continuous support to the project.
The Board Chairman of GIADEC, Dr Tony Oteng Gyasi, who led the delegation from GIADEC and Rocksure International, thanked Otumfuo for his continuous support towards the development of the Integrated Aluminium Industry and called for similar support and buy-in from his sub-chiefs and members of the community where the bauxite deposits are located.
Chief Executive Officer of GIADEC, Mr Michael Ansah, on his part, noted that the completion of the MRE paved the way for the next phase of the project which was obtaining a mining lease and then forming a Joint Venture (JV) with Rocksure to begin mine construction with a refinery solution.
He disclosed that the MRE results showed a 50 per cent appreciation on the historical figures with a jump from the 250MMT historical bauxite deposits in the three hills to 375MMT of bauxite deposits.
The CEO of Rocksure International, Mr Kwasi Ofori, assured the Asantehene that Rocksure International would undertake its operations in conformity with all regulatory and environmental requirements and international standards.
In September, 2021, GIADEC announced the selection of Rocksure International, a wholly Ghanaian owned Company, as its strategic partner for Project two, 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. The process began with about 40 companies expressing interest. 14 companies were shortlisted to progress to round two, of which five advanced to the final round.
In March 2022, the Asantehene, Otumfuo Osei Tutu II, gave his blessings to the partnership between GIADEC and Rocksure International to execute Project two (Develop a mine in Nyinahin-Mpasaaso with a refinery solution) and pledged the support of his kingdom and sub-chiefs within the mining communities to the project.
Rocksure International, following the endorsement from the Asantehene commenced a Mineral Resource Estimate (MRE) in Nyinahin Block-B, specifically Hills 4, 5 and 6 to validate and define the bauxite resources.
Ghana’s bauxite resources are estimated to be around 900MMT. Bauxite in Ghana is mainly concentrated in three areas, namely: Awaso in the Western-North Region with 60MMT, Kyebi in the Eastern Region with 160 MMT and Nyinahin in the Ashanti Region with the highest bauxite resources of 700MMT.
BY CLIFF EKUFUL