Rocksure selected to develop $1.2bn bauxite project in Ghana
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Rocksure selected to develop $1.2bn bauxite project in Ghana

17 Sep 2021 (Last Updated September 17th, 2021 16:15)

The country seeks to develop an industry out of its bauxite reserves, which is estimated at 900 million tonnes.

Rocksure International has been selected by state-owned Ghana Integrated Aluminium Development Corporation (GIADEC) to develop bauxite resources.

According to estimates, the country holds 900 million tonnes (Mt) of bauxite reserves, with the potential to produce between 10Mtpa and 20Mtpa, reported Bloomberg citing a state company.

Rocksure will be responsible for the development of a $1.2bn integrated project involving a bauxite mine at Nyinahin-Mpasaaso in the Ashanti Region in central Ghana, and a related refinery.

State-owned holding company GIADEC will own 70% of the project while the remaining 30% will be held by Rocksure.

In a tweet, GIADEC stated: “After a competitive and transparent investor engagement process, our strategic partner, Rocksure International will be executing project 2, which involves the development of a mine in Nyinahin-Mpasaaso and a refinery solution.”

GIADEC CEO Michael Ansah was quoted by Bloomberg as saying that the mine’s construction could cost $200m.

The bauxite refinery, which is estimated to cost around $1bn, will be equipped to convert raw bauxite into aluminium products.

This development is part of Project Two of the four-phase development of Ghana’s Integrated Aluminium Industry (IAI), Ghanaian Times reported.

Expected to create more than 1,000 jobs, the Ghanaian bauxite mine would yield 5Mtpa of bauxite.

The mine is anticipated to have 390 million metric tonnes of bauxite, according to allAfrica.com.

The development of the mine and refinery forms part of the country’s efforts to develop an industry out of its untapped bauxite reserves.

GIADEC is also seeking bids from potential private companies to develop $6bn worth of infrastructure to support the development of bauxite reserves.