Ghana Bauxite Company now under Ghanaian ownership as Parliament ratifies new mining lease for company
Ghana’s Parliament has unanimously ratified the government’s mining lease granted to the Ghana Bauxite Company for operations at Awaso in the Bibiani Anhwiaso Bekwai Municipality of the Western North Region.
This decision follows a detailed report presented by the joint Parliamentary Committee on Mines and Energy and Lands and Forestry on June 26, 2024.
The Awaso bauxite mine is a cornerstone of the government’s ambitious plan to develop an integrated aluminium industry, spearheaded by the Ghana Integrated Aluminium Development Corporation (GIADEC).
GIADEC has earmarked this mine as one of four critical projects to establish a fully integrated industry, working with strategic investors to expand mining operations and develop a local refinery.
The Ghana Bauxite Company, a historic entity operating for over 80 years, is now wholly owned by Ofori-Poku Company Limited (OPCL), a Ghanaian firm that acquired the majority stake from Bosai Minerals Group in 2022.
OPCL, a prominent player in the mining services sector since 1990, has secured a new lease effective May 3, 2024, covering multiple hills in Awaso.
The lease renewal was presented to Parliament by Minister for Lands and Natural Resources Samuel A. Jinapor, in accordance with constitutional mandates for parliamentary oversight on natural resource management.
The Joint Committee, chaired by Samuel Atta Akyea, affirmed that the lease adheres to legal standards and will significantly benefit the national economy and local communities.
Parliament members commended the Minister for ensuring compliance with constitutional provisions often overlooked by past administrations. They also lauded the strategic move to involve a Ghanaian investor, ensuring full local ownership and value addition through planned refinery development.
Minister Jinapor expressed gratitude to Parliament for their unanimous support, emphasizing the government’s commitment to indigenizing the mining sector and enhancing Ghanaian participation throughout the value chain.
The ratified lease grants the Ghana Bauxite Company full operational rights, safeguarding employment and promoting socio-economic growth within the region.
