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GIADEC signs $1.5bn agreement with RUSAL for alumina refinery
•2 min read•1 source
The Ghana Integrated Aluminium Development Corporation (GIADEC) has signed a strategic agreement with the Russian aluminium company RUSAL to construct a 1.2-million-tonne-per-year alumina refinery in Ghana. The deal, valued at approximately $1.5 billion, was formalised in Moscow during the 3rd Russia–Africa Forum. This partnership represents a major step forward in Ghana's quest to establish a fully integrated aluminium industry, aimed at processing mineral resources locally rather than exporting them in their raw state. Construction of the refinery is projected to take about 36 months, with the facility designed to utilize natural gas and bauxite sourced from local mining operations. This integrated approach ensures that the energy and raw material requirements of the refinery are met through domestic supply chains, strengthening the national economy and creating a sustainable industrial model. The project is expected to significantly enhance local employment and infrastructure, providing a foundation for further investment in the sector. Beyond the refinery's immediate output, the collaboration involves several joint ventures intended to promote Ghana's vast bauxite reserves. By processing bauxite into alumina within the country, GIADEC and RUSAL are aligning their operations with Ghana's broader industrialization goals. This move is intended to capture more value from the mining sector, providing high-quality raw materials for the local aluminium industry and positioning Ghana as a key player in the global aluminium market. The establishment of the refinery is a central pillar of the Integrated Aluminium Industry (IAI) masterplan. This plan focuses on ensuring that every stage of the aluminium production process—from mining to smelting and downstream manufacturing—is conducted domestically. By achieving this level of industrial integration, Ghana expects to drive economic transformation, reduce dependence on imports, and foster long-term industrial growth for the benefit of all citizens.
