Rusal and GIADEC partner to develop 5m tonne bauxite project

Russian aluminium producer Rusal and the Ghana Integrated Aluminium Development Corporation (GIADEC) have signed a memorandum of understanding (MOU) to establish a joint venture for bauxite mining and processing in Ghana. Announced during the Russia-Africa Summit in Moscow, the partnership seeks to significantly scale up Ghana's mining output while establishing the country's first major domestic refining capabilities.

The ambitious project targets an annual production of five million metric tonnes of bauxite. Crucially, the agreement includes the development of a refining facility with a capacity of 1.2 million tonnes of alumina per year. Under the terms of the agreement, Rusal is expected to hold a majority stake in the resulting joint ventures. This collaboration forms part of a broader strategy to leverage Ghana's extensive mineral resources through international expertise and capital.

By integrating refining into the mining process, the initiative aims to transform Ghana’s position within the global aluminium value chain. Historically, Ghana has largely exported raw bauxite, missing out on the value-added benefits of domestic processing. The transition to local alumina production is expected to create jobs, enhance technical expertise, and increase the economic returns from the country's natural resources.

The deal was formalised during the Russia-Africa Economic and Humanitarian Forum, highlighting a growing trend of industrial cooperation between the two nations. While the MOU sets the framework for the 5-million-tonne project, further technical and financial assessments will follow to determine the operational timelines and infrastructure requirements. This move aligns with the government's objective to build a fully integrated aluminium industry that supports national industrialisation.