Ghana Bauxite Company secures US$250m Ecobank Financing to improve operations ahead of refinery

Ghana Bauxite Company Limited (GBC) has secured a US$250 million financing deal from Ecobank Ghana PLC to expand its Awaso mine operations. This investment aims to support the development of a planned alumina refinery and ultimately, an Integrated Aluminium Industry (IAI) within the country. Ecobank Ghana's CEO, Abena Osei-Poku, emphasized the importance of financial expertise and collaboration in transformative projects.

GBC Director, Robert Danso Boakye, explained that the mine's production must be increased before the refinery's construction to ensure a sustainable supply of bauxite. The mine's output has risen from 773,213 metric tonnes in 2022 to around 2.07 million tonnes in 2025, largely due to the adoption of surface-mining equipment and a broader operational investment program.

The refinery is anticipated to require 4.5 million tonnes of bauxite to produce 1.5 million tonnes of alumina, which will further yield 750,000 metric tonnes of aluminium. The company expects the creation of approximately 600-700 direct jobs during the refinery construction, with many more indirect jobs generated. Ghana's Integrated Aluminium Industry strategy aims to transition from raw bauxite exports to producing higher-value products, such as aluminium and manufactured goods.