The government of Ghana is finalising a deal to to bring in an investor to partner the Ghana Integrated Aluminium Development Corporation (GIADEC) for bauxite exploitation in the country. According to President Nana Akufo-Addo, GIADEC has made good progress on the bauxite exploration programme that will drive the government’s industrial transformation agenda.
“We are in the final stage of an open and transparent investor engagement process, and we are in negotiations to select strategic investors to partner GIADEC for the bauxite mining and alumina refinery projects,” said the President while addressing Parliament in his first State of the Nation Address in his second term. He further affirmed that the selected partner will be announced imminently.
Ghana Integrated Aluminium Development Corporation (GIADEC)
Ghana Integrated Aluminium Development Corporation (GIADEC) was established through an Act of Parliament in August 2018 to promote and develop a globally competitive integrated aluminium industry in Ghana. The corporation is the holding company for all Government investments and interests in the Integrated Aluminium Industry. This includes two existing companies – VALCO & Ghana Bauxite Company, and the mining rights to Ghana’s bauxite reserves. GIADEC is committed to globally accepted best practice to undertake the sustainable mining of bauxite to ensure minimal impact to the environment and local communities.
The corporation has already set up and inaugurated 19-member committees for the various communities where bauxite mining or refineries are going to be established. These comprise Asiakwa (Atewa) in the Eastern Region, Awaso in the Western North Region, and Nyinahini and Mpasaaso in the Ashanti Region.
Members of the committees represent all interested parties in the areas. Each team is made up of chiefs, opinion leaders, local government leaders, district police commanders, forestry representatives, women’s group representatives, youth association representatives, and religious leaders.