Support Rocksure, GIADEC to construct bauxite mine in Nyinahin, Asantehene urges government

The Asantehene, Otumfuo Osei Tutu II, has described the completion of the mineral resource estimate (MRE) conducted jointly by the Ghana Integrated Aluminium Development Corporation (GIADEC) and Rocksure International on parts of the Nyinahin Hills as a historic feat that will transform the Ghanaian economy.

At a brief event to present the results of the MRE on Nyinahin Block B to him formally at Manhyia Palace in Kumasi, the Asantehene emphasised that the availability of the certified MRE results will attract the investment needed to drive an integrated aluminium industry (or IAI for short).

Otumfuo Osei Tutu was full of praise for the chief executive officers of GIADEC (Michael Ansah) and Rocksure International (Kwasi Ofori) for their commitment to executing GIADEC’S second project (which will develop a mine in Nyinahin-Mpasaaso together with a refinery) and he pledged his continuous support for the project.

The Asantehene declared that the development of an integrated aluminium industry could be the panacea to Ghana’s unemployment woes, as it will employ hundreds of young Ghanaians, and said he was elated to be alive to witness this milestone.

The GIADEC board chairman, Tony Oteng Gyasi, who led the delegation from the corporation and Rocksure International, thanked Otumfuo for his continuous support towards the development of the integrated aluminium industry. Dr Oteng Gyasi called for similar support and buy-in from the Asantehene’s subchiefs and members of the community where the bauxite deposits are located.

Michael Ansah announced that the completion of the MRE paves the way for the next phase of the project, which is obtaining a mining lease and then forming a joint venture with Rocksure to begin constructing the mine with a refinery solution.

He disclosed that the MRE results showed a 50% appreciation on the historical figures, with a jump from the 250MMT historical estimate of bauxite deposits in the three hills to 375MMT of bauxite deposits.

Kwasi Ofori, the Rocksure International chief executive, assured the Asantehene that Rocksure will undertake its operations in conformity with all regulatory and environmental requirements and international standards.

The delegation from GIADEC included Nana Amampene Boateng Twum II (a board member), Kojo Yankah (head of communications and executive assistant to the CEO), Sheriff Appiah (communications manager) and Joseph Chibae Adjaho (communications officer).

The delegation was joined by senior executives of Rocksure International.

Background

In September 2021, GIADEC announced the selection of Rocksure International, a wholly Ghanaian-owned company, as its strategic partner for Project II, one of four that define the integrated aluminium industry being executed by GIADEC.

Rocksure was selected after a rigorous, competitive, three-round investor engagement process in 2019.

The process began with about 40 companies expressing interest. Fourteen firms were shortlisted to progress to round two, of which five advanced to the final round.

In March 2022, the Asantehene gave his blessing to the partnership between GIADEC and Rocksure to execute Project II, which will develop a mine in Nyinahin-Mpasaaso with a refinery solution.

The Asantehene further pledged the support of his kingdom and subchiefs within the mining communities to the project.

Following the endorsement from the Asantehene, Rocksure International launched a mineral resource estimate in Nyinahin Block B (specifically of Hills 4, 5 and 6) to validate and define the bauxite resources.

Ghana’s bauxite resources are estimated to be in the region of 900MMT. Bauxite in Ghana is mainly concentrated in three areas: Awaso in the Western North Region (60MMT), Kyebi in the Eastern Region (160MMT) and Nyinahin in the Ashanti Region, which has the largest bauxite resources – approximately 700MMT.

The validation of the resources in parts of the Nyinahin area through an MRE is the first time Ghana has taken steps to validate all of its bauxite resources across the country.

Reporting by Wilberforce Asare in Accra

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