Ghana government proposes ban on bauxite exports

According to local news in Ghana, the country recently proposed a new legal instrument to ban the export of bauxite. Ghanaian President Akufo said that this move is aimed at ensuring value for money and accelerating the country’s industrialization process, while stating that they are In the implementation of the four project processes of the Ghana Integrated Aluminum Development Corporation (GIADEC), Projects One and Two have been launched.

On January 26, local time, the Greek company Mytilineos announced that it had obtained an exploration license from the Ghana Integrated Aluminum Development Company (GIADEC) to explore and mine bauxite in the Ninayhin-Mpasaaso area. The initial 18 months of the project included investigations to confirm reserves, develop the mine and conduct a comprehensive feasibility study. The designated Ninayhin C area is expected to contain 300 million tonnes of bauxite reserves, with annual production of 10 million tonnes and potential revenue of US$500 million at current prices.

Mytilineos will work with GIADEC to build an alumina project with an annual production capacity of up to 1.5 million tons. By comparison, its Agios Nikolaos plant in Boeotia, Greece, currently produces 865,000 tonnes of aluminum per year.

Ghanaian bauxite is a high-quality trihydrate bauxite with a grade of about 51% Al and 1-2% Si. According to customs data, my country imported a total of 1.16 million tons of bauxite from Ghana in 2023, a year-on-year increase of 187%, and the average unit price was approximately US$75/dry ton.