The Ministry of Lands and Natural Resources has strongly refuted reports suggesting that the Government of Ghana has cancelled a $1.2 billion bauxite lease awarded to Rocksure International in favour of foreign partners.
The Ministry described the claims as false, baseless, and misleading, insisting no valid lease ever existed for Rocksure International to be cancelled.
In a press statement issued on Wednesday, July 30, the Ministry clarified that although Rocksure International was linked to a proposed lease, the agreement was never ratified by the 8th Parliament of Ghana before its dissolution in January 2025.
Citing a 2019 Supreme Court ruling, the Ministry explained that any unratified mining lease is considered legally void, and therefore, the alleged cancellation is legally impossible.
The Ministry also discredited the widely circulated valuation of the bauxite deposit at $1.2 billion, labelling it as “unsubstantiated and grossly misleading.”
According to the statement, no official valuation of the project or deposit has pegged it at that amount, and the claim appears to be a deliberate distortion aimed at stirring public controversy.
Further setting the record straight, the Ministry outlined the role of the Ghana Integrated Aluminium Development Corporation (GIADEC) in Ghana’s aluminium sector.
GIADEC, established by law, is responsible for developing the country’s bauxite resources by engaging strategic investors and overseeing key projects such as the Western Railway Network, Takoradi Port Expansion, and the establishment of an alumina refinery and aluminium smelter.
The Corporation is also tasked with retrofitting VALCO to improve efficiency and commercial viability.
The Ministry emphasised that any partnerships being pursued are in line with GIADEC’s legal mandate and broader vision to develop an Integrated Aluminium Industry in Ghana.