The Asantehene, Otumfuo Osei Tutu II has described the completion of the Mineral Resource Estimate (MRE) jointly conducted 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 formally present results of the MREon Nyinahin Block B, specifically Hills 4,5 and 6 to him at the Manhyia Palace in Kumasi, the Asantehene emphasized that the availability of the certified MRE results will attract the investment needed to drive the Integrated Aluminium Industry.
Otumfuo Osei Tutu was full of praise for the Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Michael Ansah and Chief Executive Officer of Rocksure International, Kwasi Ofori for their commitment towards the execution of Project 2 (Development of a mine in Nyinahin-Mpasaaso with a refinery solution) and pledged his continuous support to the project.
According to him, the development of the Integrated Aluminium Industry could be the panacea to Ghana’s unemployment woes as it will employ hundreds of the teeming youth,adding that he is extremelyelated to be alive to witness this significant milestone.
Board Chairman of GIADEC, Dr. Tony Oteng Gyasiwho led the delegation from GIADEC and Rocksure International, thanked Otumfuor for his continuous support towards the development of the Integrated Aluminium Industry and called for similar support and buy-in from his sub-chiefs and members of the community where the bauxite deposits are located.
Chief Executive Officer of GIADEC, Michael Ansah,on his part, noted 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 (JV) with Rocksure to begin mine construction 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 bauxite deposits in the three hills to 375MMT of bauxite deposits.
CEO of Rocksure International, Kwasi Ofori assured the Asantehene that Rocksure International will undertake its operations in conformity with all regulatory and environmental requirements and international standards.
The delegation from GIADEC included board member,Nana Amampene Boateng Twum II,Executive Assistant to the CEO and Head of Communications, Mr. Kojo Yankah, Communications Manager, Mr. Sheriff Appiah and Communications Officer, Mr. Joseph Chibae Adjaho. The delegation was also joined bySenior Executive Members 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 2, one of four projects that define the Integrated Aluminium Industry (IAI), being executed by GIADEC.
Rocksure International was selected after a rigorous competitive three-round investor engagement process in 2019. The process began with about 40 companies expressing interest. Fourteen (14) companies were shortlisted to progress to round two, of which five (5) advanced to the final round.
In March 2022, the Asantehene,Otumfuo Osei Tutu II,gave his blessings to the partnership between GIADEC and Rocksure International to execute Project 2 (Develop a mine in Nyinahin-Mpasaaso with a refinery solution)and pledged the support of his kingdom and sub-chiefs within the mining communities to the project.
Rocksure International, following the endorsement from the Asantehene commenced a Mineral Resource Estimate (MRE) in Nyinahin Block-B, specifically Hills 4, 5 &6 to validate and define the bauxite resources.
Ghana’s bauxite resources are estimated to be around 900MMT. Bauxite in Ghana is mainly concentrated in three (3) areas i.e Awaso in the Western-North region with 60MMT, Kyebi in the Eastern region with 160 MMT and Nyinahin in the Ashanti Region with the highest bauxite resources of 700MMT.
The validation of the bauxite resources in parts of the Nyinahin area through an MRE is the first time Ghana is taking steps to validate all of its bauxite resources across the country.