Home Business Ghana seeks investors to mine bauxite to fund infrastructure

Ghana seeks investors to mine bauxite to fund infrastructure


Ghana is inviting traders to post ideas on how to tap the nation’s bauxite deposits as the authorities seeks to leverage extra of its mineral means to fund infrastructure.

The federal government will acquire proposals from fascinated parties right up until the end of the yr on how to increase generation and create refining and smelting potential for the producing of alumina and aluminum, mentioned Michael Ansah, chief government officer of Ghana Built-in Aluminium Corp.

The company was produced very last year to carry out the government’s approach for the marketplace.

The government wants to elevate annual output via this spherical of offers to 5 million metric tons, from 1.4 million tons at the moment, Ansah mentioned.

West African neighbor Guinea, the largest exporter of bauxite to China, generated about 50 million tons of the aluminum ingredient in 2018, in accordance to the U.S. Geological Study.

The govt of President Nana Akufo-Addo is trying to get to use the proceeds of bauxite mining to create colleges, hospitals, bridges and roadways.

Final 12 months, it concluded a $2 billion deal with China’s Sinohydro Corp. for infrastructure jobs, an settlement that it will finance with the proceeds of refined bauxite gross sales.

The nation also mines gold, diamonds and manganese, and is the world’s 2nd-biggest grower of cocoa.

Ghana’s plans to maximize bauxite output occur even although the aluminum sector has declined for the previous yr, reversing a surge in April 2018 that happened in the wake of sanctions on key producer United Co. Rusal.

Precedence tasks involve:

  • A refinery for alumina generation, estimated to expense $1 billion.
  • Elevating output capability of the Volta Aluminium Co. smelter to 350,000 tons, from 200,000 tons. The refinery is presently operating at a fifth of its ability.

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