Reindorf Twumasi Ankrah is the CEO of GIADEC
Ghana is set to become a global hub for aluminium production as the state-owned Ghana Integrated Aluminium Development Corporation (GIADEC) announces a strategic breakthrough in the country’s long-awaited industrialisation agenda.
According to the Chief Executive Officer of the Corporation, Reindorf Twumasi Ankrah, six mining leases have been approved for GIADEC, enabling the company to spearhead the development of Ghana’s Integrated Aluminium Industry (IAI).
In a statement sighted by GhanaWeb Business, Reindorf Twumasi Ankrah said the leases mark a turning point for Ghana’s aluminium ambitions, as the country aims to unlock an estimated 920 million tonnes of bauxite.
“This is more than a mining operation, it is an industrial transformation agenda. With these leases, we are unlocking the full potential of Ghana’s estimated 920 million tonnes of bauxite. This is the foundation of a fully integrated aluminium value chain that begins in the soil and ends with high-grade aluminium products for global export,” he stated.
The GIADEC CEO noted that the development aligns with the broader economic strategy of the government under President John Dramani Mahama’s “Reset Agenda,” which prioritises value addition, industrialisation, and sustainable resource use.
“For decades, we exported raw materials while importing finished goods. That model is broken. What we are doing now is taking control of our narrative, processing our bauxite into alumina and aluminium, and developing a vibrant downstream sector,” Twumasi Ankrah added.
With investor confidence surging, GIADEC has already signed a Memorandum of Understanding (MoU) with Emirates Global Aluminium (EGA), one of the world’s largest aluminium producers. The partnership will explore the development of new bauxite mines, critical rail infrastructure, and the expansion of the Takoradi Port to support export logistics.
“This isn’t just about mining. We are building the ecosystem; rail, port, energy, smelting and refining to ensure a truly integrated industry. We are creating value chains, not just value extraction,” Ankrah explained.
In addition, GIADEC is in advanced talks with U.S.-based Madison Alumina to establish a state-of-the-art alumina refinery and aluminium smelter in Ghana. The project will include green innovations such as processing red mud waste into cement and caustic soda, and generating up to 5,000MW of solar and renewable energy.
“Our partners are not just bringing capital, they’re bringing innovation, sustainability, and a commitment to high-value production that benefits Ghanaians. We estimate over 20,000 direct and indirect jobs will be created through this integrated approach,” Ankrah said.
To anchor Ghana’s aluminium future, GIADEC is also working to modernise the Volta Aluminium Company (VALCO). According to the CEO, the goal is to increase the smelter’s production capacity from 50,000 metric tonnes to 300,000 metric tonnes annually.
“We are not discarding legacy assets, we’re transforming them. VALCO’s retrofit will make it a commercially viable, environmentally friendly smelter capable of competing globally,” he mentioned.
To attract further investment, GIADEC is offering three flexible and innovative partnership models tailored to meet the needs of global stakeholders.
The first is a Credit-Resource Swap, which allows investors to provide critical infrastructure or financing in exchange for future supplies of bauxite or alumina.
The second is Long-Term Off-Take Agreements, offering investors supply certainty through guaranteed purchase contracts. Lastly, Joint Venture Operations invite equity participation, enabling partners to share in both the risks and rewards across the entire aluminium value chain, from mining and refining to smelting and infrastructure development.
“These options provide flexibility for global investors while ensuring Ghana retains strategic control and value from its resources,” Ankrah concluded.
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