- GIADEC seeks over $6 billion to build Ghana’s aluminium industry
- Phase 1 upgrades facilities, Phase 2 builds a local alumina refinery
- ASG focuses on mining projects in Africa with a mine-to-market strategy
The Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah, has revealed that the Corporation is eager to establish partnerships with global investors who share its vision of creating an Integrated Aluminium Industry (IAI) in Ghana and possess the necessary financial resources and industry knowledge.
During an investor engagement session with the African Selection Group (ASG), Mr. Ankrah emphasized that GIADEC needs over $6 billion to fully develop the aluminium value chain. He pointed out that, given the current economic climate in Ghana, the Corporation cannot solely depend on government funding. As a result, GIADEC is actively seeking appropriate investors committed to the IAI.
John Kamara, Managing Director of ASG, highlighted that ASG’s vertically integrated business model is well-suited to GIADEC’s vision. He expressed ASG’s strong interest in Ghana’s aluminium sector, particularly in upgrading and modernizing the VALCO smelter.
Mr. Kamara further stated that ASG is ready to invest the required capital in the short to medium term and implement a two-phase strategic plan to improve VALCO’s efficiency and increase its production capacity from 60,000 to over 300,000 metric tonnes per year. Phase 1 will focus on upgrading production facilities, expanding capacity, introducing energy efficiency measures, technological improvements, and modernizing potlines and supporting infrastructure to enhance energy efficiency and operational stability. Phase 2 will involve building a local alumina refinery, ensuring a steady, cost-effective alumina supply to VALCO while reducing reliance on imported alumina.
Mr. Kamara also noted that ASG plans to adopt innovative and sustainable refining techniques that provide significant environmental and operational advantages over the traditional Bayer process.
Regarding energy supply, Mr. Kamara mentioned that ASG would explore new technologies and alternative energy sources within Ghana’s energy mix to guarantee a reliable and affordable power supply to sustain operations. The ASG team also included David Woodall, Group Operating Director, Wayne Apted, Chief Financial Officer, and Quinton Charaud, Finance Team member.
ABOUT AFRICAN SELECTION GROUP (ASG)
African Selection Group (ASG) is a diversified natural resources company focused on building a portfolio of metal and mining assets throughout Africa, spanning the entire value chain.
ASG’s strategy involves managing a fully funded pipeline of vertically integrated metal and mining projects, utilizing a mine-to-market model and leveraging downstream capabilities and in-house marketing expertise. ASG has successfully executed mine-to-market strategies for leading companies in the EMEA region and possesses extensive experience in managing in-country risks.
