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Business News of Thursday, 3 June 2004

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Bauxite Demand Is High

International demand for bauxite from the Ghana Bauxite Company (GBC) is quite high in spite of the falling prices of metals on the world market.

Mr. J.K. Nsiah, financial controller and acting managing director of the Ghana Bauxite Company at Sefwi-Awaso, disclosed this when the minister of mines, Mrs. Cecilia Bannerman, the chief executive of the Ghana Chamber of Mines, Ms Joyce Aryee officials of the minister and the minerals commission paid a day?s working visit to the mine.

Briefing the delegation Mr. Nsiah noted that the company was capable of exporting a million tones of bauxite annually but the inability of the Ghana Railways to haul the ore to the ports rendered it incapable of meeting the high demand. Mr. Nsiah said GBC in its bid to increase its export capacity spent about $4.5 to bring in some wagons to help the Ghana Railways to improve upon its haulage capacity.

Mrs. Cecilia Bannerman, who toured the company?s production sites and treatment plants commended the company for its environmentally-friendly operations, which she said, have not had any serious negative impact on the environment and communities in the area.