Ghana's economy set to soar with the launch of Nyinahin alumina refinery and Ada Songhor salt projects

President Nana Addo Dankwa has assured Ghanaians of brighter days ahead, foreseeing an economic breakthrough following a recent downturn. He highlighted several government initiatives to mitigate economic challenges and provide relief to businesses and the general population.

Government initiatives

Among these initiatives is collaborating with the Ghana Integrated Aluminium Development Corporation (GIADEC) to construct an alumina refinery and develop mines at Nyinahin-Mpasaaso. Additionally, the government is moving forward with the Ada Songhor Salt project, which has sparked controversy but is seen as a vital part of Ghana's economic growth strategy.

"I have witnessed the signing of two (2) separate agreements in Accra recently, firstly, between GIADEC, a wholly-owned public entity, and Rocksure International, a wholly-owned private Ghanaian company, selected, after a rigorous process, as a strategic partner to develop a mine at Nyinahin-Mpassaso; and, secondly, between GIADEC and Mytilineos SA, a leading global industrial and energy company, which entails the development of a second mine at Nyinahin-Mpasaaso, and the establishment of a refinery," said President Nana Addo Dankwa Akufo-Addo.

President Nana Addo Dankwa anticipates

President Nana Addo Dankwa anticipates that Ghana will soon become the largest salt producer on the continent through the Ada Songhor Salt project by Electrochem Salt Mine Ltd. This project is poised to significantly boost Ghana's position in the salt industry, contributing to its economic growth and development goals.

 "We are finally coming to the end of decades of exporting raw bauxite from the country. We shall now refine bauxite, mined in Ghana, to produce alumina that will feed the VALCO smelter and the downstream aluminium industry, which is going to have a dramatic impact on Ghanaian industrialisation, when we produce parts for motor vehicles, air crafts, roofing sheets and home utensils," added President Nana Addo Dankwa.

During the 67th Independence Day Celebration in Koforidua, Eastern Region, on March 6, 2024, President Akufo-Addo expressed confidence that Ghana is on the brink of a significant economic breakthrough with the implementation of these projects.

“After many years of disputes, which prevented the exploitation of salt at the site, work has finally started and salt will be mined on a large commercial scale. With its initial ability to produce some six hundred and fifty thousand metric tons (650,000 MT) of salt per annum, and expanding its productive capacity to one million metric tonnes this year, and to two million metric tonnes by 2027, at ninety-nine-point-nine-nine-percent (99.99%) purity, the Electrochem Salt Mine will be the biggest salt producing facility in Africa,” added the President.