Bauxite Mining and Refinery Venture Attracts Potential Financial Backers
Ghana Charts Course for Local Bauxite Refinery and Enhanced Aluminum Production
The Ghana Bauxite Company (GBC) has sent a high-level delegation to this year's Bauxite and Alumina Conference in Miami, USA, led by its Executive Chairman, Isaac Ofori Poku, and featuring key members of its new board. The objective was to woo potential investors, share updates on the company's plans, and showcase Ghana's bountiful bauxite reserves.
The team, which included the Minister of Lands and Natural Resources - also the MP for Damongo Constituency, Samuel Abu Jinapor, set out to promote the advantages of investing in Ghana's bauxite industry, with a focus on the establishment of a bauxite refinery. In his address, Mr. Jinapor extended an invitation to investors to take advantage of Ghana's high-quality bauxite reserves, a versatile metal essential for electric vehicles, aircraft, and electronics, paving the way toward a circular economy.
The GBC, under the new board and management, aims to increase its production capacity significantly, ramping up production from the current 1.2 million metric tonnes per annum to a projected 5 million metric tonnes annually starting from 2023. This ambitious expansion plan is supported by investments in infrastructure, such as expansion projects at the Takoradi Ports, enabling the loading of 200,000 metric tonnes of Bauxite within three days for exports.
According to recent developments, a Ghanaian consortium has taken over Bosai Mineral Group's 80 percent shares in the GBC, marking a new era for the company. Ghana's bauxite resources are estimated to be substantial, with an estimated 900 million tonnes located across three main regions. With this abundant natural resource and ambitious plans, Ghana is poised to witness a US$10 billion economic boost from the exploitation of its bauxite and aluminum reserves.
High-profile industry captains, ministers of state, and top diplomats, including Guinean Minister for Mines and Geology, Moussa Mogassouba, were present during the conference and expressed interest in Ghana's advancements in the bauxite sector. Ghana's move to establish a bauxite refinery is considered a crucial step to add value to the raw bauxite, improve export revenues, and foster local industrial development.
Concurrently, this move aligns with broader African policy trends, aiming to enhance local beneficiation of minerals, as Ghana aspires to capture more economic value within the continent[2][4]. The success of this initiative will depend on overcoming operational and infrastructural challenges common in local mineral processing efforts in Africa[2][4].
- The Ghana Bauxite Company (GBC) is presenting its plans for a local bauxite refinery and enhanced aluminum production at the Bauxite and Alumina Conference in Miami.
- The GBC's delegation, led by Isaac Ofori Poku, is seeking potential investors to support their ambitious plan of increasing production capacity from 1.2 million metric tonnes to 5 million metric tonnes annually.
- In his address, Samuel Abu Jinapor, the Minister of Lands and Natural Resources, invited investors to capitalize on Ghana's high-quality bauxite reserves, a critical metal for industries such as electronics, electric vehicles, and aircraft.
- The establishment of a bauxite refinery in Ghana is expected to generate a $10 billion boost to the country's economy, while also enhancing local industrial development and improving export revenues.
