Akufo-Addo announces bauxite and salt projects that will change the nation’s economic fortunes

He said better days are ahead because there are two projects in the offing that will transform the economy.

“Fellow Ghanaians, I know that we have gone through difficult economic circumstances, but it is clear that we have overcome the worst, and we should be looking forward to better times. I wish to make reference in particular to two projects coming on stream that should make a great difference to the economic fortunes of the country,” he said while delivering the 67^th independence anniversary speech on March 6.

The ceremony was held in the Eastern Regional capital, Koforidua under the theme, “Our Democracy, Our Pride.”

According to President Akufo-Addo, the two projects involve bauxite and salt mining.

“I refer to the successful selection of strategic partners that will work with the Ghana Integrated Aluminium Development Corporation (GIADEC) to build a new alumina refinery, and develop mines at Nyinahin-Mpasaaso as three (3) of four (4) projects being executed under the Integrated Aluminium Industry (IAI) projects.

Ghana Month: 67th Independence anniversary speech by Akufo-Addo

I have witnessed the signing of two (2) separate agreements in Accra recently, firstly, between GIADEC, a wholly-owned public entity, and Rocksure International, a wholly-owned private Ghanaian company, selected, after a rigorous process, as a strategic partner to develop a mine at Nyinahin-Mpassaso; and, secondly, between GIADEC and Mytilineos SA, a leading global industrial and energy company, which entails the development of a second mine at Nyinahin-Mpasaaso, and the establishment of a refinery. We are finally coming to the end of decades of exporting raw bauxite from the country.

We shall now refine bauxite, mined in Ghana, to produce alumina that will feed the VALCO smelter and the downstream aluminium industry, which is going to have a dramatic impact on Ghanaian industrialisation, when we produce parts for motor vehicles, air crafts, roofing sheets and home utensils. It has taken a long time for us to get to this stage, but we have taken the trouble to make sure that we get it right. As an indigene, it is my hope that, once litigation over the Atewa Forest Range, in Kyebi, is settled, we will be able to develop also the Kyebi bauxite mine and refinery, that will help deliver employment and high paying jobs for our people, and also ensure integration and value addition across the bauxite/aluminium value chain,”the President disclosed.

Touching on salt, he revealed that, “The other major project that is coming on stream, which is bound to make a dramatic change to the economy, is the Ada Songhor Salt project, being spearheaded by Electrochem Salt Mine Ltd, led by the dynamic Ghanaian entrepreneur, Mr. Daniel McKorley, aka McDan. After many years of disputes, which prevented the exploitation of salt at the site, work has finally started and salt will be mined on a large commercial scale.

With its initial ability to produce some six hundred and fifty thousand metric tons (650,000 MT) of salt per annum, and expanding its productive capacity to one million metric tonnes this year, and to two million metric tonnes by 2027, at ninety-nine-point-nine-nine-percent (99.99%) purity, the Electrochem Salt Mine will be the biggest salt producing facility in Africa. These are figures that should spell a significant change in the economy, and cheer us up.

I am optimistic that, together with other initiatives of this Government, we are on the verge of a breakthrough in our economic fortunes,” President Akufo-Addo assured.