The West African nation Ghana is poised to gain from a forthcoming alumina refinery as a strategic partner that has been successfully chosen to collaborate with the Ghana Integrated Aluminium Development Corporation (GIADEC) to implement Project 3A. This project is part of the Integrated Aluminium Industry (IAI) initiatives, consisting of four projects in total.
Let’s hear what the President commented
The President of the nation, Akufo-Addo, present during the signing ceremony between the two parties in Accra, emphasised that the implementation of Project 3A, involving the establishment of a mine at Nyinahin-Mpasaaso and the construction of an alumina refinery, marks a significant step in discontinuing the longstanding practice of exporting raw bauxite from Ghana. The project aims to refine locally mined bauxite, producing alumina to supply the VALCO smelter, thereby ending the decades-long export of raw bauxite from the country.
“We have mined and exported bauxite in its raw form since the 1940s and have never achieved the goal of value addition or integration despite considerable efforts made by successive governments. I am proud of the progress GIADEC has made since its inception under the leadership of Mr. Michael Ansah, working to leverage on 900 million metric tonnes of bauxite and other holdings including the 100% ownership of VALCO to deliver the Integrated Aluminium Industry in Ghana,” the President said.
The President praised GIADEC's board, management, and staff for their outstanding efforts in establishing an alumina refinery to address the longstanding gap in Ghana's aluminium industry. He encouraged GIADEC to persist in advancing the integration of the bauxite-aluminium value chain, emphasising the need for comprehensive development across all aspects of the value chain. President Akuo-Addo highlighted the significance of partnering with the reputable global metallurgy and energy company Mytilineos S.A for Project 3A, expressing confidence that this collaboration would attract further investments from other prominent players in the Integrated Aluminium Industry.
President Akufo-Addo urges GIADEC and its strategic partners to adhere to world-class environmental standards.
“I am specifically aware of GIADEC’s unwavering commitment to world-class environmental standards, which informed their choice of partner for Project 3A. As such, government and the relevant state agencies must ensure the strictest adherence and commitment to all the national and global environmental and social performance standards,” he added.
GIADC's CEO unveils ambitious vision
Michael Ansah, the Chief Executive Officer of GIADEC, underscored the transformative impact of Project 3A and other initiatives within the Integrated Aluminium Industry, emphasising their substantial contributions to the Ghanaian economy.
Ansah added, “GIADEC’s absolute requirement for Project 3A and the approach presented by our partner focuses on value addition, as well as the social benefits that will accrue through the creation of over 1,500 jobs over time. We shall ensure collaboration with local subcontractors, prioritise local talent and provide training programmes to align with cultural and environmental considerations.”
Ansah emphasised that Mytilineos S.A. must conduct a Mineral Resource Estimate (MRE) to confirm and delineate the bauxite resources before establishing a mine and refinery.
Mytilineos unveils strategic vision
Elenos Karaindros, Chief Strategy and M&A Officer at MYTILINEOS Energy & Metals said MYTILINEOS has partnered with Ghana for many years, leveraging Ghana's extensive experience in numerous power projects.
"We have gained a robust and unique understanding of the country's energy sector, as well as its people and local environment. Today, we are pleased to embark on the next chapter of this enduring collaboration. As the operator of the European Union's exclusive vertically integrated aluminium complex, MYTILINEOS brings comprehensive expertise across the entire value chain. More importantly, we prioritize creating value that benefits all partners involved in every project," he stated.
Additionally, Elenos stated that MYTILINEOS adheres to the highest global standards of ESG excellence.
He said, "We aim to deliver sustained benefits for the Ghanaian economy and society. For MYTILINEOS, this project aligns fully with our strategy to fortify the security of the bauxite-to-aluminium supply chain and expand our global footprint in metal and mining. We are enthusiastic about the journey ahead and eagerly anticipate working closely with our partners on this landmark project."
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