The Ministry of Lands and Natural Resources has firmly denied reports suggesting the cancellation of a $1.2 billion bauxite lease awarded to Rocksure International in favour of foreign companies, calling the allegations false, baseless, and misleading.
In a statement released on July 30, the Ministry clarified that no valid lease ever existed with Rocksure International, as Ghana’s 8th Parliament never ratified the proposed agreement before its dissolution in January 2025. This statement directly challenges claims that Ghana followed Guinea’s lead in revoking mining licenses, particularly Rocksure’s, in a strategic shift toward foreign partnerships.
“No official valuation has confirmed that figure, suggesting the claim is a deliberate distortion meant to stir public discontent. Further clarifying the facts, the Ministry outlined the mandate of the Ghana Integrated Aluminium Development Corporation (GIADEC), which was established by law to lead the development of Ghana’s bauxite resources. Referencing a 2019 Supreme Court ruling, the Ministry stressed that any mining lease not ratified by Parliament is legally void. A cancellation cannot exist where there was no valid lease,” the statement emphasised.
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The Ministry also rubbished the $1.2 billion valuation of the bauxite deposit that has been widely circulated, describing it as “unsubstantiated and grossly misleading,” as per the statement.
GIADEC’s mandate includes attracting strategic investors and managing key infrastructure and industrial projects, such as the Western Railway Network, the expansion of Takoradi Port, the establishment of an alumina refinery and aluminium smelter, and the modernisation of VALCO to enhance operational efficiency.
The Ministry concluded by reaffirming that all ongoing partnership efforts are in full alignment with GIADEC’s legal mandate and Ghana’s overarching goal of developing a fully integrated aluminium industry.
Meanwhile, GIADEC continues to lead Ghana’s broader vision of building an integrated aluminium industry, with plans that include bauxite mining, alumina refining, aluminium smelting, and the modernisation of VALCO. The Ministry reaffirmed that all ongoing discussions with strategic partners are being pursued within GIADEC’s legal mandate and in alignment with national goals for economic diversification, job creation, and value addition.
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