GIADEC and RUSAL agree to build and jointly operate a bauxite-to-alumina refinery in Ghana.

GIADEC and RUSAL, a global leader in aluminium production, have reached an agreement to jointly develop a large-scale bauxite-to-alumina refinery in Ghana. The Russian company will construct a refinery with an annual capacity of 1.2 million tonnes using local bauxite from the Nyinahin deposit, which is processed through two joint ventures, Nyinahini Bauxite Ltd and Ghana Alumina Company.

RUSAL will finance the entire project and hold a majority stake in each company. The estimated cost of the refinery project is over $1.5 billion, with completion expected within 36 months.

RUSAL's entry into the Ghanaian aluminium industry is seen as a strategic move to bolster their raw material base. Ghana is home to some of West Africa's largest undeveloped bauxite reserves, and RUSAL aims to establish an integrated production chain from mining to alumina production. Leveraging its extensive experience in Africa over the past two decades, RUSAL is poised to efficiently implement the Ghanaian projects, from the initial design phase to reaching full production capacity.

GIADEC, on the other hand, values the partnership as it aligns with its goal of establishing an integrated aluminium industry in Ghana. This collaboration will not only bring substantial investment and job creation to the country but also lead to improvements in rail and port infrastructure, benefiting Ghanaian businesses. Additionally, GIADEC and RUSAL plan to jointly explore new hills within several regions of Ghana to assess the commercial viability of additional reserves, further strengthening the country's aluminium production capabilities.