GIADEC, Rocksure Mineral Resource Estimate report excites Otumfuo

Otumfuo Osei Tutu II, has lauded the completion of the Mineral Resource Estimate (MRE) conducted jointly by the Ghana Integrated Aluminium Development Corporation (GIADEC) and Rocksure International on parts of the Nyinahin Hills.

The results, presented during the event, were described by the Asantehene as a historic feat that has the potential to reshape the Ghanaian economy.

The certified MRE results for Nyinahin Block B, specifically Hills 4, 5, and 6, were formally presented to Otumfuo Osei Tutu II, who emphasized the transformative impact these findings could have on the Integrated Aluminium Industry in Ghana.

The Asantehene expressed confidence that the availability of these results would attract the necessary investments crucial for driving the industry forward.

Otumfuo Osei Tutu II commended the dedication of Mr. Michael Ansah, the Chief Executive Officer of GIADEC, and Mr. Kwasi Osei Ofori, the Chief Executive Officer of Rocksure International, for their commitment to the execution of Project 2, aimed at developing a mine in Nyinahin-Mpasaaso with a refinery solution.

He pledged continuous support to the project and highlighted the potential of the Integrated Aluminium Industry to address Ghana’s unemployment challenges by providing job opportunities for the youth.

Dr. Tony Oteng Gyasi, the Board Chairman of GIADEC, led the delegation from GIADEC and Rocksure International, expressing gratitude to the Asantehene for his unwavering support towards the development of the Integrated Aluminium Industry.

He called for similar support and cooperation from sub-chiefs and community members where the bauxite deposits are situated.

Mr. Michael Ansah, CEO of GIADEC, revealed that the completion of the MRE marked the beginning of the next phase of the project.

This includes obtaining a mining lease and forming a Joint Venture (JV) with Rocksure to initiate mine construction along with a refinery solution.

The MRE results showed a significant 50% appreciation from historical figures, with bauxite deposits in the three hills jumping from 250MMT to 375MMT.

Assuring environmental responsibility, Mr. Kwasi Ofori, CEO of Rocksure International, guaranteed that the company would adhere to all regulatory and environmental requirements as well as international standards in their operations.

The GIADEC delegation included board member Nana Amampene Boateng Twum II, Executive Assistant to the CEO and Head of Communications Mr. Kojo Yankah, Communications Manager Mr. Sheriff Appiah, and Communications Officer Mr. Joseph Chibae Adjaho.

The delegation was joined by senior executive members of Rocksure International.

The unveiling of these MRE results marks a pivotal moment in Ghana’s pursuit of economic transformation through the development of its Integrated Aluminium Industry.

In a groundbreaking move in September 2021, GIADEC announced its selection of Rocksure International as the strategic partner for Project 2, a pivotal initiative within the broader framework of the Integrated Aluminium Industry (IAI).

Rocksure International, a wholly Ghanaian-owned company, emerged triumphant after a rigorous three-round investor engagement process, signaling a significant step forward in the development of Ghana’s bauxite resources.

The competitive selection process, initiated in 2019, attracted interest from approximately 40 companies.

 Following careful evaluation, 14 companies were shortlisted for the second round, with five ultimately advancing to the final stage.

 Rocksure International’s selection as the strategic partner underscored its competence and alignment with the objectives of Project 2.

In March 2022, the partnership received a crucial endorsement from the Asantehene, Otumfuo Osei Tutu II, who expressed his blessings and pledged the unwavering support of his kingdom and sub-chiefs within the mining communities.

This marked a significant milestone in the collaboration between GIADEC and Rocksure International to execute Project 2, aimed at developing a mine in Nyinahin-Mpasaaso with an integrated refinery solution.

Following the Asantehene’s endorsement, Rocksure International promptly initiated a Mineral Resource Estimate (MRE) in Nyinahin Block-B, specifically focusing on Hills 4, 5, and 6.

 The MRE aimed to validate and define the bauxite resources in this region, contributing to the broader goal of enhancing Ghana’s position in the global aluminium industry.

Ghana’s bauxite resources, estimated at around 900MMT, are concentrated in three primary areas: Awaso in the Western-North region (60MMT), Kyebi in the Eastern region (160MMT), and Nyinahin in the Ashanti Region, boasting the highest bauxite resources of 700MMT.

The ongoing validation of bauxite resources in the Nyinahin area through the MRE represents a historic step for Ghana, marking the first comprehensive effort to validate all bauxite resources across the country.

This ambitious undertaking aligns with Ghana’s broader vision of leveraging its rich mineral resources to drive economic growth and development.