President Nana Addo Dankwa Akufo-Addo says the development of a bauxite mine and the construction of refinery solutions at Nyinahin-Mpasaaso in the Ashanti Region will enable the country to put an end to decades of exporting raw bauxite.
He said as a country, Ghana had been mining and exporting bauxite in its raw form since the 1940s, depriving the economy of attaining the full benefits of its large bauxite resource.
“I am proud of the progress the Ghana Integrated Aluminium Development Corporation (GIADEC) has made since its inception to leverage 900 metric tonnes of bauxite and other holdings, including the 100 percent ownership of VALCO to deliver the Integrated Aluminium Industry,” he said.
The President said this in Accra last Friday, when GIADEC unveiled its new partner, Mytilineos S.A, at a ceremony in Accra.
They are going to work on Project Three (3) of the IAI master plan, which comprises the development of a mine and refinery solution at Nyinahin-Mpasaaso in the Ashanti Region and similar facilities at Atiwa in the Eastern Region.
As part of the partnership agreement, Mytilineos S.A. will undertake Minerals Resource Estimates (MRE) to establish the bauxite quantities for the Nyinahin Block C and this is expected to be completed within the next 18 months.
In addition, the partner will undertake research and conduct the necessary feasibility studies for the establishment of a mine and the development of a 1.5MMT capacity refinery solution as part of Project 3A.
In a statement, the Chief Strategy and M&A Officer at Mytilineos Energy & Metals, Mr Elenos Karaindros, noted that Mytilineos had been a long-standing partner in Ghana, leveraging the country’s extensive experience in numerous power projects.
He stated that Mytilineos was committed to the highest global standards of ESG excellence, adding that “our objective is to deliver sustained benefits for the Ghanaian economy and society.
