President Nana Akufo-Addo has said two projects are coming on stream that should make a great difference to the economic fortunes of Ghana.
“I refer to the successful selection of strategic partners that will work with the Ghana Integrated Aluminium Development Corporation (GIADEC) to build a new alumina refinery, and develop mines at Nyinahin-Mpasaaso as three (3) of four (4) projects being executed under the Integrated Aluminium Industry (IAI) projects”, he mentioned at the 67th Independence Day anniversary in Koforidua, capital of the Eastern Region.
“I have witnessed the signing of two (2) separate agreements in Accra recently, firstly, between GIADEC, a wholly-owned public entity, and Rocksure International, a wholly-owned private Ghanaian company, selected, after a rigorous process, as a strategic partner to develop a mine at Nyinahin-Mpassaso; and, secondly, between GIADEC and Mytilineos SA, a leading global industrial and energy company, which entails the development of a second mine at Nyinahin-Mpasaaso, and the establishment of a refinery”, the president noted.
He said the bauxite project will end decades of raw mineral exports.
“We are finally coming to the end of decades of exporting raw bauxite from the country. We shall now refine bauxite, mined in Ghana, to produce alumina that will feed the VALCO smelter and the downstream aluminium industry, which is going to have a dramatic impact on Ghanaian industrialisation, when we produce parts for motor vehicles, air crafts, roofing sheets and home utensils. It has taken a long time for us to get to this stage, but we have taken the trouble to make sure that we get it right”.
“As an indigene, it is my hope that, once litigation over the Atewa Forest Range, in Kyebi, is settled, we will be able to develop also the Kyebi bauxite mine and refinery, that will help deliver employment and high paying jobs for our people, and also ensure integration and value addition across the bauxite/aluminium value chain”, he noted.
“The other major project that is coming on stream, which is bound to make a dramatic change to the economy”, the president announced, “is the Ada Songhor Salt project, being spearheaded by Electrochem Salt Mine Ltd, led by the dynamic Ghanaian entrepreneur, Mr. Daniel McKorley, aka McDan. After many years of disputes, which prevented the exploitation of salt at the site, work has finally started and salt will be mined on a large commercial scale”.
“With its initial ability to produce some six hundred and fifty thousand metric tons (650,000 MT) of salt per annum, and expanding its productive capacity to one million metric tonnes this year, and to two million metric tonnes by 2027, at ninety-nine-point-nine-nine-percent (99.99%) purity, the Electrochem Salt Mine will be the biggest salt producing facility in Africa. These are figures that should spell a significant change in the economy, and cheer us up”, he said.
“I am optimistic that, together with other initiatives of this government, we are on the verge of a breakthrough in our economic fortunes”, the president hoped.
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