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Bauxite mining: Gov’t to settle on key investors by close of 2020

The Ghana Integrated Aluminium Development Corporation (GIADEC), will by close of this year, enter into joint venture partnership with investors for the mining of the country’s bauxite reserves, President Nana Akufo-Addo has revealed.

Speaking at the 2020 State of the Nation Address in Parliament, the President said the move is part of government’s plans to boost the country’s industrialization agenda.

The Ghana Integrated Bauxite and Aluminum Development Corporation and the Ghana Integrated Iron and Steel Corporation were established by law as the vehicles for this exploitation.”

The joint venture partners are expected to help in expanding bauxite production as well as refining and smelting capacities for the manufacturing of alumina and aluminium.

Ghana in 2017 signed an agreement with China for the development of a $10 billion bauxite venture that will include the construction of alumina refineries and railway infrastructure, according to a senior government official.

The two countries agreed to a memorandum of understanding in which China will provide funding for the project to exploit the West African nation’s 960 million metric tons of bauxite deposits.

by: Naa Anyema Collison

About Naa Anyema Collison

A broadcast journalist who has an interest in financial happenings in the world of business. Currently the face of AM News Host of Kids House Business Desk @Adoa Television

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