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
-
Italy busts €300 million streaming piracy ring
1 hour -
Texas sues Meta, WhatsApp over encryption privacy claims
1 hour -
US appeals court revives $82 million of verdict against Ford in trade secrets case
1 hour -
Activision shareholders reach $250m settlement over Microsoft buyout
1 hour -
Google appeals US court ruling on search monopoly
2 hours -
QNET, Manchester City Host Grassroots Football Clinic in Ghana
2 hours -
Stakeholders demand urgent intervention in Ghana Swimming Association crisisÂ
4 hours -
Labourer remanded for allegedly robbing financial consultant
4 hours -
Two granted GH¢200K bail each over maize fraud
4 hours -
Panama backs Morocco’s autonomy plan on Sahara dispute
5 hours -
King Mohammed VI pardons Senegalese fans convicted during AFCON
5 hours -
Morocco wants tourists to visit Western Sahara. Some say it’s tightening its control
5 hours -
East Africa wants to curb imports of used clothes. But it’s not easy
5 hours -
Ebola outbreak poses massive challenges, warns nurse
5 hours -
Bolivian minister’s convoy ambushed while overseeing roadblock clearance
5 hours