Ghana Integrated Aluminium Development Corporation (GIADEC) is striving to become a leading contributor to the country's economic development under the leadership of its newly appointed acting Chief Executive Officer (CEO), Mr Reindorf Twumasi Ankrah.
Image source: LinkedIn (GIADEC)
Mr Twumasi Ankrah, GIADEC's new CEO and a distinguished lawyer with extensive experience across multiple legal domains, is prepared to embrace a new challenge to add further value to the work of his predecessor and position GIADEC as a leading force for national advancement by supporting and advancing the indigenous aluminium value chain – the vision with which an act of Parliament established GIADEC.
Mr Ankrah addressed the staff durbar this week, meant to welcome the new CEO of the Corporation, by sharing his belief that Ghana's integrated aluminium industry has the potential to contribute over $2 billion to the nation's economy and thus should be given due attention by the government. He also said he would immediately focus on every aspect of Ghana's aluminium value chain to realise this vision.
Mr Ankrah added that his goal is very well aligned with President Mahama's desire to leverage the country's natural resources to produce finished goods in the domestic market. Instead of exporting bauxite to foreign refineries, the country should utilise it to produce aluminium and create thousands of jobs for local people. In this context, Ankrah emphasised the importance of building local communities that would contribute to mining and refining activities and earn sustainable livelihoods.
Ankrah said, "We will work to strengthen the relationship between GIADEC, the chiefs, and the local communities. This is a crucial part of our goal to ensure that our revered chiefs and the people in these communities ultimately become the biggest beneficiaries of a functioning Integrated Aluminium Industry."
At present, the absence of an alumina refinery in Ghana hinders the full integration of the aluminium industry. The country operates a bauxite mine in Awaso and the VALCO smelter in Tema. The Awaso mine, operated by Ghana Bauxite Company Limited (GBC), produces and delivers around 1.2 million tonnes of bauxite a year, while Ghana has about 920 million tonnes of reserves found in Awaso with 60 million tonnes, Kyebi with 160 million tonnes, and Nyinahin with 700 million tonnes.
Of the total bauxite produced, Ghana exports it all to foreign countries, mainly China. In December 2024 alone, China imported 168,000 tonnes of bauxite from Ghana, which contributed to the former's annual 8.676 million tonnes of bauxite imports from non-mainstream sources through 2024.
The Ghanaian government has long been working towards reducing the exports. In early 2024, the then President of Ghana, Nana Addo Dankwa Akufo-Addo, introduced several initiatives aimed at this goal, including a ban on raw bauxite exports to encourage domestic use of the raw material for developing an integrated aluminium industry. To achieve this vision, the President established the Ghana Integrated Aluminium Development Corporation (GIADEC) to add value to the country's raw bauxite resources and gradually phase out raw exports in the short to medium term.
In this aspect, METLEN's Energy and Metals will play a key role in exploring bauxite deposits in the Ninayhin - Mpasaaso area, where geological reserves are estimated at 300 million tonnes. Currently, METLEN is conducting scoping studies for the project, which are expected to be completed by 2025, after which decisions will be made regarding the next steps for development.
