Ghana completes Mineral Resource Estimates on Bauxite; report submitted to President
The first ever Mineral Resource Estimate (MRE) has indicated that bauxite deposits in the Nyinahin Block-B hills in the Ashanti Region are twice more than historically estimated.
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While previous studies showed 250 million tonnes of bauxite deposits in the three hills - hills 4, 5 and 6 – the latest and first ever scientific appraisal of the deposits using modern technology indicated that the locations actually held a minimum of 375 MMT of bauxite in those three hills, about 50 per cent appreciation on the historical figures.
The Chief Executive Officer (CEO) of the Ghana Integrated Aluminium Development Corporation (GIADEC) in collaboration with Mr Kwasi Osei Ofori, the CEO of Rocksure International, the strategic partner for GIADEC’s Project 2, made this known to President Akufo-Addo at the Jubilee House in Accra on Tuesday, November 14, 2023.
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 the 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.
Ghana’s bauxite resources are estimated to be around 900MMT. Bauxite in Ghana is mainly concentrated in three (3) areas i.e 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.
The validation of the bauxite resources in parts of the Nyinahin area through an MRE is the first time Ghana is taking steps to validate all of its bauxite resources across the country.
The GIADEC CEO said the results from the Mineral Resource Estimate show a significant increase in the quantity of bauxite resources historically estimated to be in the Nyinahin area.
Mr. Ansah also revealed that GIADEC will, in the coming weeks, announce a reputable European firm that will partner with the Corporation to execute Project 3A of the IAI Projects which is the “Development of a mine in Nyinahin Block ‘C’ and construction of a refinery.
President Akufo-Addo commended the Chief Executive Officer (CEO) of GIADEC, Mr. Michael Ansah and the CEO of Rocksure International, Mr. Kwasi Osei Ofori for their commendable and professional collaboration towards the execution of Project 2, which represents one of the four projects being executed under the Integrated Aluminium Industry (IAI).
“This is an exceptionally good news today. I congratulate all of you involved in this very important step for the country that is being taken. I will continue to provide you with the maximum support that you need to make sure that this whole thing becomes a reality,” he stated.
He added, “I think that if we are able to do that it will justify completely our thinking, the whole GIADEC concept of using a state vehicle that will bring together the bauxite resources in the country under one roof and therefore strengthen the hand of the entity to enter into such transactions.”
The President emphasized that the results from the MRE is the first ever to have been conducted on any of Ghana’s bauxite resources as the country has in the past relied on historical estimates and projections.
This, according to him, bodes well for the Integrated Aluminium Industry as it provides a credible basis for attracting more investors into the industry and improve investor confidence in the process.
President Akufo-Addo further charged GIADEC to ensure that the processes of value addition such as refining raw bauxite into alumina, smelting alumina into aluminium and the development of the downstream industry, was done in in the country with strong participation from Ghanaian Companies.
The Deputy Minister for Lands and Natural Resources, Mr. George Mireku Duker who represented the Minister for Lands and Natural Resources, Mr. Abu Jinapor assured GIADEC and Rocksure of the Ministry’s continuous assistance and support towards the development of the Integrated Aluminium Industry.
On his part, the CEO of Rocksure International, Mr. Kwasi Osei Ofori noted that the completion of the MRE gives credence to the President’s call that when given the chance, Ghanaian Companies can compete with their peers globally.