Ghana outlines plans for an integrated aluminium industry

The Minister of Finance, Ghana, Mr Ken Ofori-Atta, has expressed the government’s desire to fast-track economic development of the country during the presentation of the 2017 budget statement on Thursday. Mr Ofori-Atta said the government has decided to develop an integrated aluminium industry through six stages.

The first stage would be the development of the bauxite mines in Awaso, Nyinahin and Kyebi. The second will be the establishment of an alumina refinery at one of the bauxite sites. The government eyes Kyebi mines because of its closest proximity to Tema, where the Valco smelter is located.

The third stage would be the allocation of a dedicated and affordable source of continuous power supply for the smelter. The fourth stage would be to develop a railway connection between the mines and Tema to facilitate logistic infrastructure.

The fifth stage of the plan would be the conversion of domestically produced alumina to aluminium at the current Valco plant.

The government however plan to extend the aluminium industry operations beyond the upstream operations to value added segment. So the sixth stage would be the establishment of an industrial park dedicated to manufacturing aluminium related products to complete the value chain. The government can see the potentiality of a multi-billion local industry built through the aluminium value chain.

“This is in line with government’s vision for industrialisation and transformation of the Ghanaian economy, with a deliberate focus on value-addition to the country's vast mineral wealth to significantly expand the capacity of the economy to create jobs and wealth for the people,” the minister said.

The minister indicated that the budget plans would review this critical game changing industry and they have accordingly made provisions toward the implantation of an integrated aluminium industry. The government would organize feasibility studies on the related areas and introduce a bill to Parliament.

{googleAdsense}

“Ghana has since 1962, been contemplating the establishment of an integrated aluminium industry, using its natural resources in bauxite, hydro, gas and its existing smelter...Thankfully, President Nana Addo Dankwah Akufo-Addo has made the rapid and sustainable establishment of an integrated aluminium industry a top economic priority,” he added.

He also added that the government will soon develop a policy to promote a linkage between the mining sector and other sectors of the economy.