Government says it will soon be announcing a selected strategic partner for the Ghana Integrated Aluminium Development Corporation (GIADEC) as it works to finalise a deal to bring in an investor for bauxite exploration in the country.
Delivering the 2021 State of the Nation Address (SONA) on Tuesday, March 9, President Akufo-Addo noted “GIADEC has made good progress on the bauxite exploration programme that will drive our industrial transformation agenda. We are in the final stage of an open and transparent investor engagement process and we are in negotiations to select strategic investors to partner GIADEC for the bauxite mining and alumina refinery projects. The selected partner will be announced imminently”.
GIADEC, established through an Act of Parliament, is aimed at promoting and developing Ghana’s bauxite reserves and downstream industry.
Since government announced the need for a strategic partner for GIADEC, over 40 multinational companies have expressed interests in being partners to GIADEC and have subsequently been taken through the selection processes to develop various aspects of the aluminium value chain.
Companies from Asia, Africa, Americas, Pacific, Europe and a consortium of Ghanaian companies have all joined the fray to partner GIADEC.
The objective for GIADEC is to ensure Ghana gets the best out of the aluminium industry with at least 30 per cent stake in any new mine, refinery or smelter entity.
There are also plans to get four more mining concessions with a combined production of about 20 million tonnes of bauxite a year and three refineries with a combined capacity of four to six million tonnes of alumina or refined bauxite.
Management of GIADEC have started engagement with key state agencies, power producers and other stakeholders on the development of a coordinated master plan to help build the needed infrastructure and secure reliable power supply for the effective operation of the industry.
The management of GIADEC has already set up and inaugurated 19-member committees for the various bauxite communities where bauxite mining or refineries are going to take place, comprising Asiakwa (Atewa) in the Eastern Region, Awaso in the Western North Region, Nyinahini and Mpasaaso in the Ashanti Region.
With particular focus on sustainable and development mining, members of the committees according to the management of GIADEC, were carefully coopted from sections that have direct interest in health, safety, protection of lives, preservation of the forest reserves and development of the people.
Each committee has chiefs, opinion leaders, MMDCEs, assembly members, District Police Commanders, forestry representatives, women group representatives, Youth Association Representatives, religious leaders in the communities, citizens amongst others.
