Ashanti Bauxite Limited, a joint venture between the Ghana Integrated Aluminium Development Corporation (GIADEC) and Rocksure International Limited, has announced ambitious plans to develop a bauxite mine with an integrated refinery in the Nyinahin-Mpasaaso area of the Ashanti Region. This initiative is part of the joint venture's Project 2, which aims to strengthen Ghana's global aluminium value chain position.
A key milestone for the project was reached with the submission of the company's mining lease to Parliament for ratification, a critical step in moving the project forward. Once approved, the project will kick off in earnest, marking a significant development in the country's bauxite mining and refining ambitions.
Notably, the lease includes a groundbreaking provision to allocate one per cent of the project's revenue to a community development fund. This significant commitment underscores the company's dedication to improving vital infrastructure and social amenities, including schools, hospitals, roads, and access to water and electricity for the mining communities.
The project also strongly emphasises local employment, prioritising hiring from the surrounding communities. This commitment is a testament to the company's dedication to providing meaningful job opportunities and stimulating economic growth in the region.
The Ankobeahene of Nyinahin, Barima Nana Amoako Ogyampa, has called on Parliament to swiftly ratify the mining lease, emphasising that the proposed one per cent community development fund would mark a historic first in Ghana's bauxite industry. Additionally, other community elders have suggested that the fund be administered through a joint trust to ensure transparency and the efficient use of resources.
The spokesperson for the Nyinahin Youth Association, Kofi Yeboah, has urged Parliament to prioritise the lease ratification, stating that the youth are eager for progress and expect swift approval. The lease was presented to Parliament on July 26, 2024, and is currently under review by the Lands and Natural Resources Subcommittee. The next step will be its ratification.
In 2019, GIADEC launched a series of investor engagement rounds to identify strategic partners for developing Ghana’s Integrated Aluminium Industry (IAI). After a competitive selection process, Rocksure, a wholly-owned Ghanaian company, was chosen as the first strategic investor.
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