Mr Samuel Abu Jinapor, the Minister of Lands and Natural Resources, has established that Government’s quest to build an integrated aluminium industry in the country is progressing steadily.
The minister, meanwhile, explained that it is in line with the Ghana Integrated Aluminium Development Corporation Act, 2018 (Act 976), which established the Ghana Integrated Aluminium Development Corporation (GIADEC) to promote and develop an integrated aluminium industry in the country.
Mr Jinapor emphasised the need to add value to Ghana’s mineral resources to ensure optimal benefit from these resources. He noted that Government has since 2017, been pursuing the path for all mineral resources including gold, bauxite, iron ore, lithium, and other green minerals.
Speaking specifically on bauxite, Mr Jinapor averred that while the raw ore sells for around Sixty US Dollars (US$60.00) per metric tonne, primary aluminium, produced from bauxite, sells for over Two Thousand US Dollars (US$2,000.00) per metric tonne.
The minister indicated that Ghana has an estimated bauxite resource base of over nine hundred million metric tonnes (900,000,000Mt), capable of creating some two million sustainable jobs, and generating over One Trillion US Dollars in revenue if fully integrated. Unfortunately, we have, over the years, failed to make the needed investment in this area.
Contribution of A Fully Integrated Aluminium Industry to Socio-Economic Development
Mr Jinapor expressed Government’s optimism on the contribution of a fully integrated aluminium industry to socio-economic development.
“It is for this reason that in 2018, President Nana Addo Dankwa Akufo-Addo took that bold decision to establish, by an Act of Parliament, the Ghana Integrated Aluminium Development Corporation (GIADEC), to promote and develop an integrated aluminium industry, here in our country.”
Mr Samuel Abu Jinapor
According to Mr Jinapor, GIADEC has, since its establishment, developed a Masterplan for the upstream sector, and was implementing its four-project agenda, to expand the existing mine, build three additional mines, build refineries, and modernise the Volta Aluminium Company (VALCO), with all four projects at various stages of implementation. “It is therefore, necessary to prepare the downstream industry and make it ready to off-take products from the upstream industry”.
The Minister made this known at Akosombo in the Eastern Region in the ongoing two-day workshop on the downstream aluminium industry.
The minister urged participants at the workshop to bring their expertise to bear and come out with policy options and plans that that would help build a robust, functioning, and vibrant downstream aluminium industry that contributes, meaningfully, to our national economy.
Other participants at the workshop included senior officials of the Ministry of Trade and Industry, Overseas Development Institute, the Africa Continental Free Trade Area Secretariat, and companies in the upstream and downstream aluminium industry.
The workshop, which was organised by GIADEC, in partnership with the Strategic Anchor Industries Unit of the Ministry of Trade and Industry and the Overseas Development Institute (ODI), brought together stakeholders in the aluminium industry to deliberate on policy options and implementation plan for the downstream aluminium industry.
This follows an extensive research, data collection and technical analysis of best practices across the world carried out by GIADEC and ODI.
