GIADEC signs multimillion dollar bauxite deal with Mytilineos

The Ghana Integrated Aluminum Development Corporation (GIADEC) has officially entered into a strategic partnership with Mytilineos S.A, for a transformative project involving the development of a mine at Nyinahin-Mpasaaso and the conastruction of an alumina refinery.

The execution of Project 3A is one of four being carried out under the Integrated Aluminium Industry (IAI) projects. 

The strategic collaboration aims to produce a minimum of five million metric tonnes of bauxite and approximately two million tonnes of alumina annually.

The selection of Mytilineos S.A as GIADEC’s partner is seen as paving the way for more investments from global giants in the Integrated Aluminium Industry.

The strategic partnership between GIADEC and Mytilineos S. A is poised to play a pivotal role in Ghana’s economic development, job creation, and the overall realization of its industrialization goals.

The signing ceremony, witnessed by President Nana Addo Akufo Addo in Accra, marked a significant milestone for Ghana’s industrialization and economic transformation.

The execution of Project 3A is one of four being carried out under the Integrated Aluminium Industry (IAI) projects.

President Akufo Addo highlighted that the execution of Project 3A would end decades of exporting raw bauxite from Ghana.

He praised GIADEC for its work in establishing an alumina refinery, urging them to continue driving the integration of the bauxite–aluminum value chain.

The President emphasized the importance of upholding world-class environmental standards, and GIADEC and its partners were urged to adhere strictly to national and global environmental and social performance standards.

President Akufo Addo expressed optimism about the project’s potential to contribute to the country’s industrial agenda, diversify the national economy, generate high-value jobs, and position Ghana as a leading industrial powerhouse in Africa.

The President highlighted the partner’s commitment to value addition and the social benefits associated with the project, emphasizing the creation of over 1500 jobs.

He underlined plans for collaboration with local subcontractors, prioritizing local talent, and providing training programs aligned with cultural and environmental considerations.

“The vision of building an integrative aluminum industry in Ghana is one  which is particularly dear to me and one that is important to us all given the significant transformational impact it will have on our economy and its potential for wealth creation”

The President acknowledged the strong private sector    partnerships and  the unique model GIADEC   has developed that is driving successful partnership with domestic and world class companies in the integrated aluminum industry

He noted although Ghana has mined and exported Bauxite since the 1940s, the country has never achieved the goal of value addition or integration.

He however acknowledged the hard work of the leadership of GIADEC in establishing an integrated aluminum industry in the country.

“I am  proud of the progress GIADEC  has   made since its inception under the astute  leadership of the elegant  Michael Ansah  working to leverage our 900 metric tons of bauxite and our other holdings including the 100% ownership of valco to deliver integrated aluminum industry in Ghana”

In furtherance of government’s support for the success of the projects the president said he directed the relevant state institutions to work together to accelerate the development of the railway and port infrastructure that will be vital to the success of aluminum industry.

Furthermore, he said work  has progressed steadily on the Western Railway  lines while, port infrastructure necessary for efficient operations for the exportation of bulk items has been completed.

“Presently, our ports have facilities to birth cape size vessels which are necessary for larger volume shipments”, he added #

 These notwithstanding, the President urged the management and Board of GIADEC and the relevant state institutions to work collaboratively to deliver the mandate with a sense of urgency.

 He charged management to ensure the strict adherence to upholding national and global environmental and social performance standards.

The Minister for Lands and Natural Resources, Samuel Abu Jinapor, described the signing as a major milestone in the country’s industrialization drive.

He noted Ghana’s current status as the leading gold producer in Africa, surpassing South Africa, with an unprecedented annual production volume of four million ounces.

He pledged government support for the development of a fully functional Integrated Aluminium Industry in Ghana.

The Minister for Lands and Natural Resources, Samuel Abu Jinapor, described the signing as a major milestone in the country’s industrialization drive.

He noted Ghana’s current status as the leading gold producer in Africa, surpassing South Africa, with an unprecedented annual production volume of four million ounces.

“We are therefore positioning our country to have the capacity to export and reap the full benefits of the value chain of these minerals “

In furtherance of this he said government has invoked relevant sections of the Ghana Integrated Aluminum Act 2018 (ACT 976) to make regulations to ensure that bauxite is not exported in its raw state.

He noted further that through government’s efforts Ghana is currently the leading producer of gold in Africa having overtaken South Africa .

“Today are hitting an unprecedented 4 million ounces of gold production annually”, he added

Dr. Tony Oteng Gyasi, Board Chair of GIADEC, reaffirmed the corporation’s commitment to maximizing and adding value to Ghana’s natural resources.

He lauded government’s continued support in the quest to achieve a fully integrated Aluminum industry that would help propel the industrialization agenda of the country.

Chief Executive Officer (CEO) of GIADEC, Mr. Michael Ansah, highlighted the social benefits of the project, including the creation of over 1,500 jobs.

The approach focuses on value addition and collaboration with local subcontractors, prioritizing local talent and providing training programmes. The strategic partnership between GIADEC and Mytilineos S. A is poised to play a pivotal role in Ghana’s economic development, job creation, and the overall realization of its industrialization goals.

Mytilineos Energy & Metals, the selected partner, expressed commitment to the highest global standards of ESG excellence and emphasized their dedication to delivering sustained benefits for the Ghanaian economy and society.