GIADEC partners RUSAL to build $1.5bn alumina refinery in Ghana

The Ghana Integrated Aluminium Development Corporation (GIADEC) has finalized a partnership with Russian aluminium giant RUSAL to develop a bauxite-to-alumina refinery and mining operation in Ghana. The agreement, signed during the Russia–Africa Forum in Moscow, involves a total investment estimated at over $1.5 billion. The project aims to process bauxite from the Nyinahin deposit, marking a significant step toward Ghana’s goal of establishing a fully integrated aluminium industry.

Under the terms of the deal, the joint venture will construct an alumina refinery with an annual production capacity of 1.2 million tonnes. The project will be managed through two distinct entities: Nyinahini Bauxite Ltd and the Ghana Alumina Company. RUSAL is set to provide the necessary financing for the operations and will maintain a majority stake in these joint ventures. The collaboration is expected to tap into the extensive reserves of the Nyinahin deposit while identifying additional bauxite reserves across various regions in the country.

The partnership is projected to generate substantial economic benefits, including large-scale job creation and the development of critical local infrastructure. Beyond direct employment, the initiative is designed to enhance opportunities for local businesses and support the broader industrialization agenda of the Ghanaian government. By refining bauxite locally into alumina, Ghana intends to capture more value from its mineral resources rather than exporting raw ore.

This agreement aligns with GIADEC’s strategic mandate to leverage Ghana’s bauxite resources to drive economic growth and industrial transformation. The move follows the corporation's ongoing efforts to attract global partners for its "Integrated Aluminium Industry" (IAI) projects. With the financial backing and technical expertise of RUSAL, the Nyinahin project is positioned to become a cornerstone of Ghana’s industrial landscape, fostering long-term stability in the mining and manufacturing sectors.