President Akufo-Addo has lauded the successful Mineral Resource Estimate (MRE) conducted by the Ghana Integrated Aluminium Development Corporation (GIADEC) and its partner, Rocksure International, on Nyinahin Block B (Hills 4,5, and 6) of the Nyinahin hills in the Ashanti region.
The timely completion of the MRE marks a crucial step forward in advancing the construction of a bauxite mine with a refinery solution, aligning with Ghana’s national objective to add value to bauxite mining.
During a brief ceremony at the Jubilee House to present the MRE results to President Akufo-Addo, he lauded the commendable and professional collaboration between the CEO of GIADEC, Mr. Michael Ansah, and the CEO of Rocksure International, Mr. Kwasi Osei Ofori. This collaboration,the President said reflects the joint commitment of these two Ghanaian companies to executing Project 2, one of the four projects under the Integrated Aluminium Industry (IAI).
The President acknowledged the historic nature of the MRE, being the first-ever conducted on Ghana’s bauxite resources, breaking away from reliance on historical estimates.
President Akufo-Addo stressed the significance of this step for the Integrated Aluminium Industry, providing a credible foundation for attracting more investors and improving confidence in the industry.
“This is an exceptionally good news today.I congratulate all of you involved in this very important step for the country that is being taken. I will continue to provide you with the maximum support that you need to make sure that this whole thing becomes a reality. I think that if we are able to do that it will justify completely our thinking, the whole GIADEC concept of using a state vehicle that will bring together the bauxite resources in the country under one roof and therefore strengthen the hand of the entity to enter into such transactions” the President added
President Akufo Addo charged GIADEC to ensure that the processes of value addition, from refining raw bauxite to developing the downstream industry, take place in Ghana with strong participation from local companies.
Deputy Minister for Lands and Natural Resources, Mr. George Mireku Duker, assured GIADEC and Rocksure of the Ministry’s continuous support for the development of the Integrated Aluminium Industry.
GIADEC’s Chief Executive Officer, Mr. Michael Ansah, expressed gratitude to the President, stating that GIADEC, in collaboration with its partners, plans to conduct similar MREs in other operational areas before initiating any mine activity.
Mr.Michael Ansah explained that, esults from the Mineral Resource Estimate revealed a significant increase in the quantity of bauxite resources in the Nyinahin area compared to historical estimates.
He said the MRE results also validated the quality of bauxite resources in the region.
“Historically we estimated that we had in the region of 250MMT of bauxite deposits in the three hills we are talking about, that is hills 4,5 and 6. Following the work that we have done now, we have been able establish that we have a minimum of 375MMT of bauxite in those three hills, so a 50% appreciation on the historical figures”.
Mr. Ansah disclosed that GIADEC would announce a reputable European firm in the coming weeks, partnering with the Corporation to execute Project 3A of the Integrated Aluminium Industry (IAI) Projects. Project 3A involves the development of a mine in Nyinahin Block C and the construction of a refinery.
CEO of Rocksure International, Mr. Kwasi Osei Ofori, emphasized that the successful completion of the MRE supports the President’s call for Ghanaian companies to compete globally when given the chance.
In September 2021, GIADEC selected Rocksure International as its strategic partner for Project 2, one of four projects defining the Integrated Aluminium Industry.
Rocksure International commenced the MRE in Nyinahin Block-B, validating and defining the bauxite resources.
Ghana’s bauxite resources are estimated to be around 900MMT, with concentrations in Awaso, Kyebi, and Nyinahin i.e Awaso in the Western-North region with 60MMT, Kyebi in the Eastern region with 160 MMT and Nyinahin in the Ashanti Region with the highest bauxite resources of 700MMT.
The MRE in the Nyinahin area marks the first step in validating all of Ghana’s bauxite resources across the country.
Source: Mybrytfmonline.com/Obed Ansah
