Ghana government plans private investment in bauxite mining to transform economy

<p>Ghana is on its way to revive the economy. The country on the West Africa's Gulf of Guniea is considering further unleashing its mineral resource potential to transform the economy through development of industries and job creation. Ghana President, Nana Akufo-Addo said bauxite deposits at Kyebi and Nyinahin will be mined to manufacture machine parts within the country. <br /><br />The government of Ghana, Akufo-Addo further reiterated, is determind to rope in the private sector to set up strategic industries such as manufacturing to help expedite job creation in the country.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Ghanabauxite.jpg" alt="News" width="517" height="226" /><br />Commenting on the bauxite project, Akufo-Addo said, "These include, but not limited to, an iron and steel industry, which will exploit the iron ore deposits at Oppon Manso and Sheini, near Tamale, and facilitate the manufacture of machine parts and equipment; an integrated aluminium industry, which will exploit the bauxite deposits at Kyebi and Nyinahin; petrochemical industries from oil and gas deposits from the Jubilee, TEN and Sankofa fields; and vehicle assembly plants."<br /><br />{googleAdsense}<br /><br />The President made this statement when he was addressing a congregation as the Guest of Honour at the Okuapeman School&rsquo;s 60th Anniversary celebration in Ghana. Earlier in January this year, Jamaica&rsquo;s Transport and Mining Minister Lester &ldquo;Mike&rdquo; Henry expressed optimism about the country&rsquo;s bauxite and minerals sector. He said the domestic bauxite mining industry shows a significant potential for growth in the coming months and years and that a policy shift in the direction of downstream operations profit sharing is positioning the island for growth in its mining sector.</p>