Coal India eyes Ghana’s 920Mt bauxite as India hunts global mineral assets

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Coal India, the world’s largest coal producer, is evaluating bauxite opportunities in Ghana as the Indian state-controlled miner eyes expansion beyond coal and to secure overseas mineral assets. The Ghana interest is part of a wider plan to establish Coal India’s first overseas trading office in Singapore. This could serve as a base for mineral trading and potential acquisitions involving bauxite, lithium, iron ore, rare earths and other critical minerals.

As of Thursday, Coal India was valued at around INR 2.48 trillion (USD 26 billion) on the Indian stock market. As per its official database, the company produced 768.19 million tonnes of coal in FY2025-26. Its move into overseas minerals comes as India seeks to secure resources required for manufacturing, renewable energy, electric vehicles (EVs) and defence.  

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The company is reportedly working on registering a Singapore office that would assess mineral opportunities and build relationships with resource owners across Africa and other regions. Coal India is also evaluating assets in Chile, Canada and Australia.

The proposed international expansion follows the company's recent acquisition of an iron ore block in Odisha and reflects a broader push to diversify its resource portfolio.

India’s National Critical Mineral Mission (NCMM), approved in January 2025, also focuses on exploration, processing, recycling and overseas acquisition of mineral assets. One of the country's notable overseas initiatives has been an agreement to explore five lithium blocks spanning 15,703 hectares in Argentina.

Spotlight on Ghana’s bauxite sector

Ghana is estimated to hold around 920 million tonnes of bauxite, with major resources located in Awaso, Nyinahin and Kyebi.

However, the country currently does not have an operating refinery to convert locally mined bauxite into alumina. This leaves Ghana dependent on exports of raw bauxite while its aluminium industry imports alumina for smelting.

The Awaso mine produces around one million tonnes of bauxite annually, while the Ghana Integrated Aluminium Development Corporation (GIADEC) is targeting an expansion of production to five million tonnes per annum (MTPA). The corporation also plans an alumina refinery capable of producing around 1.6 MTPA of alumina.

GIADEC is separately working with Ghanaian mining company Rocksure International on a proposed mine and refinery at Nyinahin-Mpasaaso.

Another project involving Metlen Energy & Metals covers an estimated 300 MTPA of bauxite and could eventually produce up to 10 MTPA, alongside another proposed alumina refinery.

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Ghana wants to move beyond raw bauxite exports

Coal India’s potential interest would come as Ghana works to develop an integrated aluminium industry covering four mines, at least two refineries and expanded aluminium-smelting capacity.

For Ghana, the priority is to attract investment that allows more of its bauxite to be processed domestically rather than exported as raw material.

GIADEC is required to retain at least a 30 per cent stake in any new joint venture within Ghana’s integrated aluminium industry.

That structure could be an important consideration for any potential Coal India involvement. It remains unclear whether the Indian company is evaluating a mining asset, an interest in an existing project or access to future bauxite production.

Coal India’s Ghana interest remains at an early evaluation stage. No specific mine, deposit or company has been identified. Additionally, there is no indication in the supplied material that negotiations with Ghanaian authorities have begun.

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