{"id":759371,"date":"2019-12-06T01:21:14","date_gmt":"2019-12-06T01:21:14","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/12\/06\/giadec-to-own-30-of-all-concessionaires-ceo\/"},"modified":"2019-12-06T01:21:14","modified_gmt":"2019-12-06T01:21:14","slug":"giadec-to-own-30-of-all-concessionaires-ceo","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/12\/06\/giadec-to-own-30-of-all-concessionaires-ceo\/","title":{"rendered":"GIADEC to own 30% of all concessionaires \u2013 CEO"},"content":{"rendered":"

<\/p>\n

\n
\n
\"Michael
Michael Ansah<\/figcaption><\/figure>\n<\/div>\n

Chief Executive Officer(CEO) of the Ghana Integrated Aluminium Development Corporation (GIADEC), Michael Ansah, has said that the corporation will have a 30 per cent minimum stake in business entities selected to mine Ghana\u2019s bauxite. <\/p>\n

READ THIS: Over 40 multinational companies bid to mine alumina in Ghana<\/strong><\/p>\n

\u201cThe Act through which GIADEC was created stipulates that,
\nthe corporation must own 30 per cent of all mining entities that mine the
\ncountry\u2019s bauxite,\u201d he said. <\/p>\n

The corporation, according to Mr Ansah, aims at building an integrated bauxite mining and refinery industry in the country.<\/p>\n

SEE THIS: NCA sanctions MTN over network challenges<\/strong><\/p>\n

\u201cWe want to have the entire value chain of bauxite processing in the country, from mining to refinery to smelting,\u201d he said.<\/p>\n

Ghana is reported to have in excess of 900 million metric tonnes of bauxite in reserves, positioning Ghana as the 8th largest country with bauxite reserves.<\/p>\n

READ ALSO: Photos: NDC \u2018pacifies\u2019 Okyenhene over Kwame Zu\u2019s animal comment<\/strong><\/p>\n

Speaking in an interview on Asempa FM\u2019s Eko Sii Sen <\/strong>show on Thursday, Mr Ansah said the corporation plans to create four bauxite mining concessions. <\/p>\n

\u201cSo at the various bauxite mining areas in the country, we want to break them into four mining concessions of mining companies that will mine bauxite between 3-5 million metric tonnes,\u201d he noted.<\/p>\n

THIS ALSO: DCE blames poor roads on recent armed robbery cases [Audio]<\/strong><\/p>\n

He also revealed that GIADEC, by the end of the first or second quarter of 2020 will select companies to begin mining the country\u2019s bauxite reserves. \u00a0<\/p>\n

GIADEC, developed by the government, is to aid industrial transformation and accelerate development of the Ghanaian economy. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Michael Ansah Chief Executive Officer(CEO) of the Ghana Integrated Aluminium Development Corporation (GIADEC), Michael Ansah, has said that the corporation will have a 30 per cent minimum stake in business entities selected to mine Ghana\u2019s bauxite. READ THIS: Over 40 multinational companies bid to mine alumina in Ghana \u201cThe Act through which GIADEC was created […]<\/p>\n","protected":false},"author":1,"featured_media":759372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-759371","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nGIADEC to own 30% of all concessionaires \u2013 CEO - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/12\/06\/giadec-to-own-30-of-all-concessionaires-ceo\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"GIADEC to own 30% of all concessionaires \u2013 CEO - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Michael Ansah Chief Executive Officer(CEO) of the Ghana Integrated Aluminium Development Corporation (GIADEC), Michael Ansah, has said that the corporation will have a 30 per cent minimum stake in business entities selected to mine Ghana\u2019s bauxite. 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