Support GIADEC to develop Ghana’s Integrated Aluminium Industry – Asantehene

19 March, 2024

The Asantehene, Otumfuo Osei Tutu II has said that the selection of Mytilineos S.A by the Ghana Integrated Aluminium Development Corporation (GIADEC) as a strategic partner to develop portions of the Nyinahin bauxite resources and build a refinery is a giant step towards developing an Integrated Aluminium Industry (IAI) in Ghana.

Mytilineos is a major global metallurgy and energy company listed on the Athens Stock Exchange.

During a courtesy call on the Asantehene at Manhyia Palace in Kumasi to introduce Mytilineos, the Asantehene said he was particularly excited about the bold steps being taken by GIADEC and its partners to end the exportation of raw bauxite and refining it instead into alumina in Ghana.

Otumfuo Osei Tutu said developing every aspect of the bauxite value chain - mining, refining, smelting and producing aluminium products, will provide jobs for the teeming youth and contribute significantly towards industrialising the country.

He asked Mytilineos to involve the mining communities by training and engaging local artisanal talent and sub-contractors in the execution of the project.

Asantehene further urged Mytilineos to conduct their operations in a responsible and safe manner, adding that he and his sub-chiefs would provide all the support needed for the successful implementation of the project, known as Project 3A.

The Chief Executive Officer of GIADEC, Mr. Michael Ansah, expressed his gratitude to Otumfuo for his continuous support for all the projects being executed under the organisation’s Integrated Aluminium Industry (IAI) masterplan, particularly those in Ashanti.

He emphasised that GIADEC’s vision is to ensure that all aspects of the bauxite value chain are developed, and a fully integrated aluminium industry established in Ghana.

Mr. Ansah said Mytilineos had a strong commitment to the highest global standards of environmental sustainability and governance (ESG) excellence.

Mytilineos was selected through a transparent and competitive three-round investor engagement process, launched by GIADEC in 2019, that attracted interest from approximately 40 companies from across the world.

President Nana Addo Dankwa Akufo-Addo in his speech at the 67th Independence Day celebrations, said GIADEC is one of the key organisations that would make “a great difference to the economic fortunes of Ghana.”

Mr. Ansah noted that the President’s remarks were justified as the bold steps being taken by GIADEC would position Ghana to take full advantage of the surge in the global demand for aluminum and related products.

Administrative Director of Mytilineos, Dimitrios Kakarouchas, thanked the Asantehene for his support and assured Otumfuo of their readiness to commence operations starting with the prospecting phase where Mytilineos will be undertaking Mineral Resource Estimates (MRE) to establish the bauxite quantities.

He also pledged the company’s commitment to ensuring environmental sustainability and social responsibility.

He said that “At Mytilineos, we prioritise creating value for all stakeholders. Our involvement in Ghana’s energy sector has deepened our understanding of the local environment and people. We are expanding into metals, guided by a commitment to environmental sustainability and social responsibility”.

“Our initiatives aim to empower local communities, create over 1,500 quality job opportunities, and stimulate economic activity. We are also dedicated to preserving the natural beauty of the region for future generations. We look to the future with optimism and determination. Together we will build a brighter, more prosperous and sustainable future for all,” he added.

GIADEC’s IAI masterplan involves four key projects:

Project 1 – Expansion of existing mine at Awaso and building of a refinery,

Project 2 – Development of a mine at Nyinahin-Mpasaaso and a refinery solution,

Project 3 – Development of a mine at Kyebi, a second mine at Nyinahin-Mpasaaso, and the building of a refinery,

Project 4 – The modernisation and expansion of the VALCO smelter to improve efficiency and increase capacity

The delegation from GIADEC included Deputy CEO, Akwasi Osei-Adjei and other managers and senior managers of the Corporation. The delegation was also joined by senior executives of Mytilineos.

Tags: Ghana GIADEC Asantehene Minerals

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