New alumina refinery, Ada Songhor salt project to dramatically change Ghana’s economy – Prez Akufo-Addo
President Nana Addo Dankwa Akufo-Addo is optimistic that the establishment of a new alumina refinery and the Ada Songhor Salt project, spearheaded by the Ghana Integrated Aluminium Development Corporation (GIADEC), and Electrochem Salt Mine Ltd, will significantly impact the country’s economy.
GIADEC, a wholly-owned public entity, recently signed two separate agreements in Accra with Rocksure International, a wholly-owned private Ghanaian company, to develop a mine at Nyinahin-Mpassaso and another with Mytilineos SA, a leading global industrial and energy company, to develop a second mine at Nyinahin-Mpasaaso and the establishment of a refinery.
The other major project, according to the President, is the Ada Songhor Salt project. With an initial capacity to produce some 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 99.99% purity, the Electrochem Salt Mine will be the biggest salt-producing facility in Africa.
Speaking at the 67th Independence Day Celebrations on Wednesday in Koforidua, President Akufo-Addo said he was optimistic that, together with other initiatives of the Government, “we are on the verge of a breakthrough in our economic fortunes.”
The President said though he was aware that Ghanaians were going through difficult economic circumstances, it was clear that “we have overcome the worst, and we should be looking forward to better times.”
President Akufo-Addo mentioned another important ingredient in the country’s democratic structure, the rule of law, which was needed for economic prosperity, adding: “Businesses can only prosper in an atmosphere that guarantees the rule of law.”
“For it to be effective and have a positive influence, it must apply to all aspects of our lives and all of us; on the streets, in offices and workplaces; to junior officials, and Chief Executives, to traditional leaders and Members of Parliament, to famous artistes and footballers and, yes, to the President.”
He said Ghanaians could not hope for economic prosperity without adhering to the rule of law, adding: “There are a few amongst us who equate the freedom that was proclaimed at the arrival of independence with the freedom to ignore the rules and regulations that should guide our lives. Aspirations for prosperity go hand-in-hand with the discipline necessary for the rule of law.”
“Fellow Ghanaians, on the day we celebrate our nationhood, we cannot and should not leave out a reference to the physical state of the land that constitutes Ghana,” the President stated.
Ghanaians cannot claim to love Ghana, he said, when they treat with such disdain and total careless abandon, the forests, the rivers, the vegetation, the creatures and the soils that makeup Ghana.”
“The Almighty has been kind and generous to us, and our beautiful land deserves to be treated with tender loving care,” President Akufo-Addo said and warned that unless Ghanaians changed how they treat the land, future generations would not recognise the Ghana they read about in the land this generation bequeath to them.
The President said he would stay firm in his conviction that extracting the minerals “we have been blessed with should not lead to the destruction of the forests and rivers. We should dedicate ourselves anew to taking care of Ghana.”
He reaffirmed the government’s commitment to providing support for victims of the recent, flooding in downstream communities, in the Greater Accra, Eastern and Volta Regions, caused by the spillage of the Akosombo Dam last year – a necessary action which was taken to maintain the dam’s structural integrity.
As set out in the 2024 budget, the government has set aside GH¢220 million and GH¢80 million has already been released by the Ministry of Finance to support the ongoing rehabilitation efforts for the affected communities.
The government would stop at nothing to restore normalcy to the lives and livelihoods of all affected persons, President Akufo-Addo noted.
