GIADEC, Rocksure International Presents MRE Results on Nyinahin Bauxite Resources to President
In a significant step towards the realization of Ghana’s national objective to add value to bauxite mining, the Ghana Integrated Aluminium DevelopmentCorporation (GIADEC) and its partner for Project 2, Rocksure International, have presented the Mineral Resource Estimate (MRE) results on Nyinahin Block B (Hills 4, 5, and 6) of the Nyinahin hills in the Ashanti region to President Akufo-Addo.
President Akufo-Addo commended the successful completion of the MRE, emphasizing its crucial role in advancing the construction of a bauxite mine with a refinery solution. The project aligns with the national goal of adding value to Ghana’s bauxite mining industry. The President praised the collaborative efforts of GIADEC CEO, Mr. Michael Ansah, and Rocksure International CEO, Mr. Kwasi Osei Ofori, underscoring their commendable professionalism in executing Project 2 under the Integrated Aluminium Industry (IAI).
“This is 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,” stated President Akufo-Addo.
He emphasized that the MRE results represent the first-ever conducted on Ghana’s bauxite resources, marking a departure from historical estimates and projections. The President highlighted the positive impact on investor confidence and the credibility it brings to the Integrated Aluminium Industry.
President Akufo-Addo urged GIADEC to ensure that value addition processes, including refining raw bauxite into alumina and smelting alumina into aluminum, take place in Ghana with significant participation from local companies.
Representing the Minister for Lands and Natural Resources, Deputy Minister George Mireku Duker assured GIADEC and Rocksure of continuous assistance and support from the ministry in developing the Integrated Aluminium Industry.
CEO of GIADEC, Mr. Michael Ansah, expressed gratitude for the President’s support and announced plans to conduct similar MREs in other operational areas before mine activities commence. Mr. Ansah revealed a significant increase in the quantity of bauxite resources in the Nyinahin area, validating the quality of the deposits.
“Historically, we estimated that we had in the region of 250MMT of bauxite deposits in the three hills we are talking about. Following the work that we have done now, we have been able to establish that we have a minimum of 375MMT of bauxite in those three hills, so a 50% appreciation on the historical figures,” said Mr. Ansah.
GIADEC is set to announce a reputable European firm in the coming weeks to partner on Project 3A, involving the development of a mine in Nyinahin Block C and the construction of a refinery.
The CEO of Rocksure International, Mr. Kwasi Osei Ofori, emphasized that the completion of the MRE demonstrates Ghanaian companies’ ability to compete globally, echoing President Akufo-Addo’s call for local companies to rise to the occasion.
In September 2021, GIADEC selected Rocksure International as its strategic partner for Project 2, following a rigorous competitive investor engagement process. The MRE in Nyinahin Block-B marks the first step in validating all of Ghana’s bauxite resources, estimated at around 900MMT across the country.
Source: Ghana News
