Finance

GIADEC to own 30% shares of bauxite mining companies – CEO

Chief Executive Officer(CEO) of the Ghana Integrated Aluminium Development Corporation (GIADEC), Michael Ansah, has said that the corporation will have a 30 per cent minimum stake in business entities selected to mine Ghana’s bauxite.

“The Act through which GIADEC was created stipulates that, the corporation must own 30 per cent of all mining entities that mine the country’s bauxite,” he said.

The corporation, according to Mr Ansah, aims at building an integrated bauxite mining and refinery industry in the country.

“We want to have the entire value chain of bauxite processing in the country, from mining to refinery to smelting,” he said.

Ghana is reported to have in excess of 900 million metric tonnes of bauxite in reserves, positioning Ghana as the 8th largest country with bauxite reserves.

Speaking in an interview on Asempa FM’s Eko Sii Sen show on Thursday, Mr Ansah said the corporation plans to create four bauxite mining concessions.

“So at the various bauxite mining areas in the country, we want to break them into four mining concessions of mining companies that will mine bauxite between 3-5 million metric tonnes,” he noted.

He also revealed that GIADEC, by the end of the first or second quarter of 2020 will select companies to begin mining the country’s bauxite reserves.

GIADEC, developed by the government, is to aid industrial transformation and accelerate development of the Ghanaian economy.

 

Source: adomonline.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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