Audio By Carbonatix
Ghana will finalize details of an infrastructure program before the end of the year and will pay for it with refined bauxite, said President Nana Akufo-Addo.
Ghana is seeking to derive more value from its bauxite resources by expanding the country’s processing capacity. Last year, Ghana said it signed an agreement with China that may culminate in the development of a $10 billion bauxite venture that will include the construction of alumina refineries and railways.
“This will probably be the largest infrastructure program in Ghana’s history,” Akufo-Addo said Tuesday in an emailed copy of a speech that marked the 61st anniversary of the country’s independence from Britain.
“It will involve the barter or exchange of refined bauxite for infrastructure” such as bridges, roads and hospitals.
He didn’t elaborate on potential partners.
An expansion of bauxite mining will allow Ghana to further accelerate growth, which is forecast at 8.3 percent for 2018 as oil producers such as Eni SpA and Tullow Oil Plc increase output from new fields. Ghana, which also mines gold and manganese, produced 827,000 tons of bauxite and 40,000 tons of aluminium in 2013, U.S. Geological Survey data show.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Maritimo target Ghanaian winger Nana Kofi Donkor after impressive season in Georgia
2 hours -
Ghanaian youngster Isaac Assibu signs new Malmo deal, earns first-team promotion
3 hours -
Prince Owusu completes four-year move to DAC 1904
3 hours -
When Politics Meets Perception: Will Ken Ofori-Atta return to Ghana?
6 hours -
Peace must be the hallmark of Homowo 2026 – DCOP Asiedu
7 hours -
‘Ghana lost a president, but I lost a mentor and a friend’ – Mahama pays tribute to Atta Mills
7 hours -
Ghana’s High Commissioner to UK commits to support Team Ghana at Commonwealth Games
8 hours -
Photos: Flood Mitigation Task Force begins phased dredging, demolition exercise in Accra
8 hours -
ICC top prosecutor removed over sexual misconduct allegations
8 hours -
Glasgow 2026: Ghanaian boxer Abdul Wahid Omar eliminated after unanimous points defeat to Patris Mughalzai
8 hours -
Ghana Gas CEO Judith Adjobah Blay earns Master of Laws degree from University of Nottingham
8 hours -
Gender Minister leads monitoring exercise to strengthen School Feeding Programme
8 hours -
Gov’t advocates capacity building for Ghana’s creative industry at interior design masterclass
8 hours -
Flood Mitigation Task Force begins phased dredging, desilting and demolition exercise across various locations in Accra
8 hours -
The Brotherhood: ‘Pastors should stop teaching that sex before marriage is wrong’ – MC Mr. Hanson
9 hours