Gov’t Denies Cancelling $1.2bn Bauxite Lease to Rocksure, Dismisses Project Valuation
The Ministry of Lands and Natural Resources (MLNR) has categorically denied reports claiming the government has cancelled a purported $1.2 billion bauxite mining lease awarded to indigenous firm, Rocksure International.
In a strongly worded statement issued on Tuesday, July 30, and signed by the Ministry’s Director of Communications, Ama Mawusi Mawuenyefia, the Ministry described the reports as “false, baseless, and misleading,” noting that no such lease existed to warrant cancellation.
No Valid Lease Agreement
Clarifying the status of the bauxite concession, the Ministry said Rocksure International never held a valid mineral lease for bauxite. According to the statement, the alleged lease—alongside other pending agreements—was never ratified by the 8th Parliament of Ghana before its dissolution on January 6, 2025.
Citing a 2019 Supreme Court ruling which mandates parliamentary ratification of all mineral leases for legal effect, the Ministry explained that the absence of parliamentary approval renders any such lease null and void under Ghanaian law.
Claims of $1.2bn Project Value Rejected
The Ministry further rejected the reported valuation of the project at $1.2 billion, describing it as “grossly misleading and unsubstantiated.”
“No official valuation has been undertaken to arrive at such a figure,” the statement noted, adding that the quoted amount appears to be a fabrication intended to provoke public concern and misinform the discourse around Ghana’s bauxite industry.
GIADEC’s Ongoing Strategic Role
Reaffirming government’s commitment to the development of an integrated aluminium industry, the Ministry highlighted the strategic mandate of the Ghana Integrated Aluminium Development Corporation (GIADEC).
GIADEC, it said, continues to lead efforts to attract investment and develop essential infrastructure including the Western Rail Line, Takoradi Port, an alumina refinery, and a smelter. Additionally, the modernisation of the Volta Aluminium Company (VALCO) remains a key priority under its long-term vision to maximise value from Ghana’s bauxite reserves.
The Ministry stressed that GIADEC is actively engaging with investors as part of its strategic roadmap and that no official decision has been taken to cancel or reverse any part of its operational or investment agenda.
Media Reports Slammed for Lack of Credibility
The Ministry expressed concern over what it described as a growing trend of speculative and unsubstantiated reportage.
“The reports being circulated fail to reference any credible source and merely attribute claims to unnamed individuals,” the statement said, adding that all principal entities—MLNR, GIADEC, and Rocksure International—were not consulted nor offered official comment by the media outlets involved.
“These unfounded allegations appear designed to malign the Ministry and GIADEC, undermine public trust, and potentially discourage investor confidence,” the statement concluded.
