Ashanti Bauxite Limited unveils mine with refinery plans to transform communities
Ashanti Bauxite Limited, a joint venture between the Ghana Integrated Aluminium Development Corporation (GIADEC) and Rocksure International Limited, has announced plans to develop a bauxite mine with refinery solution within the Nyinahin-Mpasaaso area in the Ashanti Region.
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The plan is part of the joint venture’s Project 2.
The company’s mining lease has been submitted to Parliament for ratification, a key step for the project to move forward.
The lease includes a groundbreaking one per cent revenue allocation to a community development fund aimed at addressing critical infrastructure and social amenities such as schools, hospitals, roads, water and electricity in the mining communities.
It also prioritises local employment to boost the local economy.
Enthusiasm
The traditional leadership of Nyinahin-Mpasaaso communities have expressed enthusiasm about the project, saying it is an opportunity for development.
The Ankobeahene of Nyinahin, Barima Nana Amoako Ogyampa, has consequently appealed to Parliament to expedite the ratification of the mining lease, highlighting that the one per cent community development fund would be a first in Ghana’s bauxite industry.
Other community elders have also proposed that the fund be managed through a joint trust to ensure transparency and the effective use of resources.
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The spokesperson for the Nyinahin Youth Association, Kofi Yeboah, has urged Parliament to prioritise the lease ratification, stating that the youth are eager for progress and expect swift approval.
The lease was presented to Parliament on July 26, 2024, and is currently under review by the Lands and Natural Resources Subcommittee. The next step will be its ratification.
Project 2
In 2019, GIADEC launched a series of investor engagement rounds to identify strategic partners for developing Ghana’s Integrated Aluminium Industry (IAI).
After a competitive selection process, Rocksure, a wholly-owned Ghanaian company, was chosen as the first strategic investor.
In 2021, GIADEC and Rocksure signed a Heads of Terms agreement, with Rocksure responsible for exploring the Nyinahin-Mpasaaso bauxite deposit and conducting environmental and feasibility studies.
Rocksure successfully completed the exploration and produced a Mineral Resource Estimate (MRE) report, confirming commercial quantities of bauxite.
The report was presented to President Nana Addo Dankwa Akufo-Addo in November 2023 and later to the Asantehene, Otumfuo Osei Tutu II.
Through continuous engagement with the Nyinahin-Mpasaaso communities, GIADEC has built a partnership of trust, ensuring that the project is beneficial to local stakeholders.
A 19-member committee made up of traditional leaders, opinion leaders and civil society representatives has been established to facilitate ongoing dialogue.
With the financial, technical and human resources in place, Ashanti Bauxite Limited is well positioned to execute Project 2, which aims to realise Ghana’s long-held vision of an integrated aluminium industry.
The ratification of the mining lease will mark a significant milestone in this journey, which dates back to the efforts of Ghana’s first President, Dr Kwame Nkrumah, who envisioned transforming Ghana’s bauxite into aluminium at the VALCO smelter.
The development of the bauxite mine and refinery in the Nyinahin-Mpasaaso area is seen as a key component in achieving this national ambition, which has the potential to drive economic growth and improve the livelihoods of local communities.