GIADEC introduces Mytilineos SA to Otumfuo

The Ghana Integrated Aluminium Development Corporation (GIADEC) has introduced Mytilineos SA, a Greek company as its external partners for the development of bauxite in Ghana.

The choice of Mytilineos SA has thus set the stage for the establishment of a refinery to process bauxite locally after the successful conduct of a Mineral Resource Estimate (MRE) on the Nyinahin Block B Hills (Hills 4, 5 and 6) of the Nyinahin Hills in the Ashanti region.

The proposed refinery would enable GIADEC and its strategic partner for Project 2, Rocksure International, a wholly Ghanaian company, to refine the millions of tons of bauxite discovered in the Nyinahin-Mpasaaso forest and maximise profits from exploration.

The new partners would complement Rocksure International to develop bauxite deposits in the Nyinahin Hills where bauxite deposits in the three Hills are estimated to be 375 million metric tonnes, an increase from the original 250 million metric tonnes.

Ghana’s bauxite resources are estimated to be around 900 million metric tonnes, which deposits are concentrated mainly in three areas namely Awaso in the Western-North Region with 60 million metric tonnes, Kyebi in the Eastern region with 160 million metric tonnes and Nyinahin in the Ashanti Region with the highest bauxite resources of 700 million metric tonnes.

Mr. Michael Ansah, Chief Executive Officer of GIADEC, told  the Asantehene, Otumfuo Osei Tutu II, yesterday that the external partners have the capacity, ability and experience to explore and develop bauxite in Ghana.

The CEO assured that the Mytilineos SA is committed to environmental standards and would comply with International standards.

The GIADEC boss emphasized that the introduction of the new partners was to seek direction and advice to herald the commencement of the project.

The Asantehene hoped Mytilineos SA would be good investors and ensure that it explore bauxite and make partnership beneficial to the parties.

“The government is committed to ensuring a viable venture and we look forward to a mutually beneficial partnership”, Otumfuo noted.

Otumfuo also reminded the development partners of the project to conduct their operations in a responsible manner by observing best mining practices.

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