Support GIADEC to develop Ghana's Integrated Aluminium Industry – Otumfuo
The Asantehene, Otumfuo Osei Tutu II, has noted that the selection of Mytilineos S.A by the Ghana Integrated Aluminium Development Corporation (GIADEC) as strategic partner to develop portions of Nyinahin bauxite resources and build a refinery is a giant step towards developing an Integrated Aluminium Industry (IAI) in Ghana.
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Mytilineos, a major global metallurgy and energy company listed on the Athens Stock Exchange, was selected through a transparent and competitive three-round investor engagement process, launched by GIADEC in 2019, that attracted interest from approximately 40 companies from across the world.
During a courtesy call on the Asantehene at Manhyia Palace in Kumasi to introduce Mytilineos, the Asantehene said he was particularly excited about the bold steps being taken by GIADEC and its partners to end the exportation of raw bauxite and instead, refine them into alumina in Ghana.
Otumfuo Osei Tutu II noted that developing every aspect of the bauxite value chain, that is, mining, refining, smelting and producing aluminium products will provide jobs for the teeming youth and contribute significantly towards industrialising the country.
He asked Mytilineos to involve the mining communities by training and engaging local artisanal talent and sub-contractors in the execution of the project.
Otumfuo further urged Mytilineos to conduct their operations in a responsible and safe manner, adding that he and his sub-chiefs would provide all the support needed for the successful implementation of the project, known as Project 3A.
For his part, the Chief Executive Officer of GIADEC, Mr. Michael Ansah, expressed his gratitude to Otumfuo for his continuous support for all the projects being executed under the organisation’s Integrated Aluminium Industry (IAI) masterplan, particularly those in Ashanti.
He said GIADEC’s vision is to ensure that all aspects of the bauxite value chain is developed into a fully integrated aluminium industry in Ghana.
Mr. Ansah also highlighted Mytilineos' strong commitment environmentally safe operations, sustainability and governance (ESG) excellence.
He said GIADEC would position Ghana to take full advantage of the surge in the global demand for aluminium and its related products.
Administrative Director of Mytilineos, Dimitrios Kakarouchas, thanked the Asantehene for his support and assured Otumfuo of their readiness to commence operations starting with the prospecting phase where Mytilineos will be undertaking Mineral Resource Estimates (MRE) to establish the bauxite quantities.
He also pledged their commitment to ensuring environmental sustainability and social responsibility.
He said that “at Mytilineos, we prioritise creating value for all stakeholders. Our involvement in Ghana’s energy sector has deepened our understanding of the local environment and people. We are expanding into metals, guided by a commitment to environmental sustainability and social responsibility”.
“Our initiatives aim to empower local communities, create over 1,500 quality job opportunities and stimulate economic activity. We are also dedicated to preserving the natural beauty of the region for future generations. We look to the future with optimism and determination. Together we will build a brighter, more prosperous and sustainable future for all,” he added.
GIADEC is a state-owned company responsible for the development of an integrated aluminium industry in Ghana. The company’s portfolio of assets includes mining rights to all of Ghana’s 900 million tonnes of bauxite reserves, 100% shares in Valco - Ghana’s smelting company and interest in Ghana Bauxite Company Limited, a producing mine that has been operating for over 70 years.
