Otumfuo backs GIADEC, Mytilineos bauxite deal
The Asantehene, Otumfuo Osei Tutu II, has applauded the selection of Mytilineos S.A as a strategic partner by the Ghana Integrated Aluminium Development Corporation (GIADEC).
In a significant move towards developing an Integrated Aluminium Industry (IAI) in Ghana, this partnership aims to develop portions of Nyinahin bauxite resources and construct a refinery.
Mytilineos S.A, a major global metallurgy and energy company listed on the Athens Stock Exchange, was introduced to the Asantehene during a courtesy call at the Manhyia Palace in Kumasi.
Expressing his excitement about the initiative, the Asantehene emphasized the importance of moving away from exporting raw bauxite and instead refining it into alumina within Ghana.
Otumfuo Osei Tutu II highlighted the potential of developing every aspect of the bauxite value chain, including mining, refining, smelting, and producing aluminium products, to create jobs for the youth and contribute significantly to industrializing the country.
He urged Mytilineos to engage local artisanal talent and sub-contractors from mining communities in the execution of the project, emphasizing the importance of responsible and safe operations.
Mr. Michael Ansah, CEO of GIADEC, expressed gratitude to the Asantehene for his continuous support and reiterated GIADEC’s vision to develop all aspects of the bauxite value chain and establish a fully integrated aluminium industry in Ghana.
He emphasized Mytilineos’s commitment to environmental sustainability and governance excellence.
The selection of Mytilineos followed a transparent and competitive investor engagement process launched by GIADEC in 2019, attracting interest from approximately 40 companies worldwide.
President Nana Addo Dankwa Akufo-Addo highlighted GIADEC as a key organization that would significantly impact Ghana’s economic fortunes during the country’s 67th independence day celebrations.
Administrative Director of Mytilineos, Dimitrios Kakarouchas expressed gratitude for the support and assured Otumfuo of their readiness to commence operations, starting with the prospecting phase to establish bauxite quantities.
He reiterated Mytilineos’s commitment to environmental sustainability, social responsibility, and creating value for stakeholders.
GIADEC’s IAI Masterplan comprises four key projects aimed at expanding existing mines, developing new mines, and modernizing existing infrastructure to improve efficiency and increase capacity.
The delegation from GIADEC, including Deputy CEO Akwasi Osei-Adjei and other senior managers, was joined by senior executives of Mytilineos during the courtesy call.
The partnership between GIADEC and Mytilineos marks a significant milestone in Ghana’s journey towards realizing its vision of an Integrated Aluminium Industry, with potential implications for economic growth and job creation.
