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
-
Black Sherif plans comeback to classroom after leaving UPSA
2 minutes -
Curfew lifted in Karaga as gov’t maintains ban on arms
2 minutes -
May Day : ICU urges gov’t to turn economic gains into real relief for workers
3 minutes -
Prompt engineering, the 24-Hour Economy, and Ghana’s AI future
4 minutes -
Engineers & Planners pays $2m into Black Stars’ 2026 World Cup fundraising drive
4 minutes -
Gov’t assures fair returns for cocoa farmers despite expected global price drop
6 minutes -
NAGRAT demands urgent teacher recruitment, funding reforms on May Day
7 minutes -
Resilient power systems security is a key for reliable electricity supply
8 minutes -
Palestinian FA president refuses handshake with Israel FA vice-president at FIFA Congress
16 minutes -
Police probe multi-million dollar gold transaction dispute
18 minutes -
Cocoa farmers likely to earn less next season amid global price drop — Kwadwo Poku warns
22 minutes -
Doreen Avio appointed PRO for Ghana Music Awards UK ahead of 10th anniversary
35 minutes -
“This Advert Is FDA-Approved” – Unpacking the FDA tagline: What consumers need to know
41 minutes -
Atarah Praise 2026 set for May 24 at Bayview Village
48 minutes -
Stability at a Cost
53 minutes