The Minister for Lands and Natural Resources, Mr Samuel A. Jinapor, has said the government’s goal of establishing an integrated aluminium industry is on track.
He said that followed the passage of the Ghana Integrated Aluminum Development Corporation Act, 2018 (Act 976), which established the Ghana Integrated Aluminum Development Corporation (GIADEC) to promote and develop the country’s integrated aluminium sector.
The Minister said this on Wednesday during the opening ceremony of a two-day workshop on the downstream aluminium industry in Akosombo in the Eastern Region.
He said the significance of adding value to Ghana’s mineral resources is to maximize the returns on the commodity.
He stated that the government was doing the same for other mineral resources, including gold, bauxite, iron ore and lithium since 2017.
Mr Jinapor noted that whereas raw ore sells for roughly US$60.00 per metric tonne, primary aluminium made from bauxite sells for more than US$2,000.00 per metric tonne.
He said Ghana has an estimated bauxite resource base of over 900 million metric tonnes, capable of providing two million long-term jobs and generating over $1 trillion in income if fully integrated.
“It is for this reason that in 2018, the President Nana Addo Dankwa Akufo-Addo, took that bold decision to establish, by an Act of Parliament, the Ghana Integrated Aluminum Development Corporation (GIADEC) to promote and develop an integrated aluminium industry here in our country,” he stated.
According to Mr Jinapor, GIADEC has developed a masterplan for the upstream sector and is implementing a four-project agenda, which includes expanding the existing mine, building three additional mines, constructing refineries and modernizing the Volta Aluminum Company (VALCO), with all four projects in various stages of completion.
He urged workshop participants to use their experience to develop policy proposals and programmes that would aid in the development of a healthy, functional and thriving downstream aluminium industry that contributes substantially to the national economy.
The workshop, which is organized by GIADEC in collaboration with the Ministry of Trade and Industry, brought together aluminium industry stakeholders to discuss policy options and implementation plans for the downstream aluminium industry.
Irene Wirekoaa Osei, ISD