President Akufo-Addo has hinted that Ghana will soon end the exportation of raw bauxite, as the new development is going to have a dramatic impact on Ghanaian industrialisation, for the production of parts for motor vehicles, aircraft, roofing sheets and home utensils.
According to the President, Ghana has gone through difficult economic circumstances, but it is clear that the country has overcome the worst, and should be looking forward to better times.
The President said this in the Eastern Regional capital, Koforidua, when speaking on the theme, “Our Democracy, Our Pride,” at the 67th independence anniversary, with a focus on reinforcing democratic values and promoting peace, particularly in light of the upcoming 2024 presidential and parliamentary elections.
President Akufo-Addo announced two particular projects coming on stream to make a great difference to the economic fortunes of the country.
He mentioned the successful selection of strategic partners who will work with the Ghana Integrated Aluminum Development Corporation (GIADEC) to build a new alumina refinery and develop mines at Nyinahin-Mpasaaso, as three of four projects being executed under the Integrated Aluminium Industry (IAI) projects.
“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 strategic partners to develop a mine at Nyinahin-Mpasaaso; 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,” he added.
“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, aircrafts, roofing sheets and home utensils,” President Akufo-Addo noted.
The President further stated, “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, I hope that once litigation over the Atewa Forest Range in Kyebi is settled, we will be able to develop the Kyebi Bauxite Mine and Refinery, that will help deliver employment and highlight paying people, and also ensure integration and value addition across the Bauxite/Aluminium chain.”
He further explained that the other major project that is coming on stream, which is bound to make a dramatic change to the economy, is the Ada Songhor Salt project, being spearheaded by ElectroChem Salt Mine Ltd, led by the dynamic Ghanaian entrepreneur, Mr. Daniel McKorley, popularly known as McDan.
He added that 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 tonnes (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 99.99% purity, the ElectroChem Salt Mine will be the biggest salt producing facility in Africa. These figures should spell a significant change in the economy, and cheer us up,” he added.
“I am optimistic that, together with other initiatives of this Government, we are on the verge of a breakthrough in our economic fortunes,” he said.
The Ivorian President, Alassane Ouattara, was the special guest of honour at the 67th Independence Day Parade.
Aside from the President of the Republic, Nana Addo Dankwa Akufo-Addo, his wife, Mrs. Rebecca Akufo-Addo, the Vice President, Dr. Mahamudu Bawumia, his wife, Samira Bawumia, Ministers of State, Members of Parliament, among other top government officials graced the event.
BY Daniel Bampoe