Asantehene commends GIADEC and Rocksure for MRE report, pledges support
The Asantehene, Otumfuo Osei Tutu II, has described the completion of the Mineral Resource Estimate on parts of the Nyinahin Hills as a historic feat that will transform the Ghanaian economy.
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The MRE was jointly conducted by the Ghana Integrated Aluminium Development Corporation (GIADEC) and Rocksure International, the strategic partner of GIADEC.
The MRE report was first presented to President Akufo-Addo at the Jubilee House in Accra on Tuesday, November 14, 2023.
At a brief event to formally present results of the MRE on Nyinahin Block B, specifically Hills 4,5 and 6 to Otumfuo Osei Tutu II at the Manhyia Palace in Kumasi on November 15, 2023, the Asantehene commended GIADEC and Rocksure International for the report and noted that the availability of the certified MRE results will attract the investment needed to drive the integrated aluminium industry.
Otumfuo Osei Tutu further commended the Chief Executive Officer of GIADEC, Mr. Michael Ansah and Chief Executive Officer of Rocksure International, Mr. Kwasi Ofori for their commitment towards the execution of Project 2, that is, the development of a mine in Nyinahin-Mpasaaso with a refinery solution.
According to him, the development of the integrated aluminium industry could be the panacea to Ghana’s unemployment woes as it will employ hundreds of the teeming unemployed youth, adding that he is excited to witness the development.
The Board Chairman of GIADEC, Dr. Tony Oteng Gyasi, who led the delegation from GIADEC and Rocksure International, thanked Otumfuo for his continuous support towards the development of the integrated aluminium industry and called for similar support and buy-in from his sub-chiefs and members of the community where the bauxite deposits are located.
Mr. Michael Ansah on his part noted that the completion of the MRE paves the way for the next phase of the project which is obtaining a mining lease and then forming a Joint Venture with Rocksure to begin mine construction with a refinery solution.
He noted that the MRE results showed a 50 per cent appreciation on the historical figures with a jump from the 250MMT historical bauxite deposits in the three hills to 375MMT of bauxite deposits.
The CEO of Rocksure International, Mr. Kwasi Ofori assured the Asantehene that Rocksure International will undertake its operations in conformity with all regulatory and environmental requirements and international standards.
The delegation from GIADEC 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 also joined by senior executive members of Rocksure International.
Background
In September, 2021, GIADEC announced the selection of Rocksure International, a wholly Ghanaian owned Company, as its strategic partner for Project 2, one of four projects that define the Integrated Aluminium Industry (IAI), being executed by GIADEC.
Rocksure International, following its selection by GIADEC commenced a Mineral Resource Estimate (MRE) in Nyinahin Block-B, specifically Hills 4, 5 & 6 to validate and define the bauxite resources.
In March 2022, the Asantehene, Otumfuo Osei Tutu II, gave his blessings to the partnership between GIADEC and Rocksure International to execute Project 2 (Develop a mine in Nyinahin-Mpasaaso with a refinery solution) and pledged his support for the project.
Ghana’s bauxite resources are estimated to be around 900MMT. Bauxite in Ghana is mainly concentrated in three (3) areas —Awaso in the Western-North region with 60MMT, Kyebi in the Eastern region with 160 MMT and Nyinahin in the Ashanti Region with the highest bauxite resources of 700MMT.
