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Business News of Wednesday, 7 April 2021


Ghana’s new aluminium industry will require 500MW of Power Supply – GIADEC CEO

Chief Executive Officer GIADEC Michael Ansah Chief Executive Officer GIADEC Michael Ansah

Ghana’s new integrated aluminium industry will require 500 megawatts of direct and stable power supply to operate effectively.

Globally, aluminium industry is highly energy-intensive, and Ghana’s aluminium industry is not going to be different.

Ghana is in the process of expanding existing bauxite mine in Awaso as well as development of additional mines in Nyinahin-Mpasaso and Kyebi.

The broader plan also includes the expansion of existing VALCO smelter and planned development of a second smelter to increase Ghana’s aluminium production capacity, and also develop at least two refineries with the goal of maximising in-country value by refining bauxite into alumina, and limiting export of raw bauxite.

According to the Chief Executive Officer of Ghana Integrated Aluminium Development Corporation (GIADEC), Mr. Michael Ansah, as part of processes to develop a globally competitive integrated aluminium industry in Ghana, GIADEC is in talks with power companies on ways to supply reliable power to the industry.

“We are working with the power companies in Ghana because this industry requires significant amount of power. We are looking at 500 megawatts of power to support the smelting and refining aspect of the work that we do”.The CEO said during a workshop for some selected journalists in Accra.

He said the prospects of the industry looks brighter for the economy of the country adding that GIADEC is in talks with car manufacturing companies and companies that use alumina for the production of various products.

“GIADEC is driving a whole industry. We are talking to Car manufacturing companies who are coming to Ghana today, we are talking to companies that are making various aluminum products. so we wants to encourage the development of these companies in Ghana because that is where a lot of value are, a lot is jobs, and the impact on the economy is going to be significantly felt. We are working with the railway ministry, we are working with Ghana ports and harbour”.

“The demand trend and market conditions are beginning to improve. It took a hard hit during the Covid-19 era bit it is starting to improve. The wind is now in our sails. if you look at the local market demand it is also improving”.He added .

Mr. Michael Ansah stated that, GIADEC is cautiously and diligently laying all the needed basic requirements that conforms to best practices before mining of bauxite for the integrated aluminium value chain commences.

“GIADEC is committed to doing the right thing. We are informed by data and fact. we want to design the right solution. We are at the juncture of selecting our strategic partners who will be with us as to drive these key investments. The selection process has been transparent and we are following due process

“We are determined to build GIADEC for long term success. We believe that if we don’t build long term success and we rush, we going to make some mistakes that will cause us dearly. We are determined to establish a thriving and a sustainable business and we are also very mindful of the environmental risk. GIADEC is committed to doing the right thing. We are informed by data and fact. we want to design the right solution”.

He revealed that GIADEC is in the process of selecting competent companies with credibility and technical capacity for the production chain of aluminium.

“GIADEC has made progress. we are very focused on driving the tenants of what we believe in-driving responsible mining, we believe that we have a real opportunity here and this opportunity is buttressed by the strength of engagement that we have with various investors. We started with an interest of over 40 companies or so today we are cutting it down to the 4 or 5 that we are talking to and we are going to shortlist to 2 or three that we will be working with”.

The integrated aluminium industry has been identified by Government of Ghana as one of the major pillars for its industrial and economic transformation agenda.

Ghana Integrated Aluminium Development Corporation (GIADEC) was therefore established through an Act of Parliament in August 2018 to promote and develop a globally competitive integrated aluminium industry in Ghana.