Govt to set up bauxite, alumina industry in WR
The President, Mr John Dramani Mahama, has indicated the resolve of his government to add value to local bauxite and other minerals before exporting them to ensure that the country derived full benefits from them.
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Mr Mahama announced this in Sekondi at a meeting with the Western Regional House of Chiefs during a three-day working visit to the Western Region on Saturday.
He said the current situation where bauxite was exported in its raw state was not the best.
He said the dream of the country’s first President, Osagyefo Dr Kwame Nkrumah, of establishing an integrated bauxite and alumina industry would be revisited and made a reality.
The President said it was the intention of the government to build such an industry in the Western Region to process the country’s bauxite before export.
That, he said, was in line with the government’s focus to restructure the economy through diversity to ensure that the country was not affected by the fall in one commodity price or another on the international market.
Price on the international market
The President said exporting a tonne of raw bauxite at the current international market price, was only $40.00, while the bauxite processed into alumina had a market value of $350.00.
“It is, therefore, economically wise to ensure that instead of the continuous export of raw bauxite, we must process the bauxite into alumina before export,” he said.
He said the government was working very hard to reactivate the dream of Nkrumah and the plant would be sited in the Western Region.
New Growth pole
“We cannot have a country that has only a single growth pole. From Independence, the only growth pole has been the Accra-Tema business district that controls about 80 per cent of industry in the country,” he said.
President Mahama said Western Region would represent a significant growth pole in the country, saying: “When people wish to migrate they could head towards this region, to seek opportunities instead of the clamour for Accra.”
Other regions
He said there was the need for more growth poles in Ashanti, Eastern, Volta and the northern parts of the country, which could focus on the agro-processing.
“With that balance, we can now say we are creating opportunities for all across the country, but if we put all our eggs in one side of the country, the people will migrate to one side resulting in pressure on utilities and other social amenities,” he said.
The expansion of the Takoradi Port and the Western rail network are two important bauxite value addition associated projects, which would be completed.