The Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah, has announced that the Corporation is open to forming partnerships with global investors who share its vision of establishing an Integrated Aluminium Industry (IAI) in Ghana and possess both the financial capability and industry expertise.

During an investor engagement session with the African Selection Group (ASG), Mr Ankrah highlighted that GIADEC requires more than US$6 billionto fully develop the aluminium value chain. He pointed out that, due to the current economic situation in Ghana, the Corporation cannot rely solely on central government funding. Therefore, GIADEC is actively seeking partnerships with suitable investors committed to the IAI.

For his part, John Kamara, the Managing Director of ASG, emphasised that ASG’s vertically integrated business model is well aligned with GIADEC’s approach. He expressed ASG’s keen interest in Ghana’s aluminium value chain, particularly in the retrofitting and modernisation of the VALCO smelter. Mr Kamara further noted that ASG is prepared to make the necessary capital investment in the short to medium term and implement a strategic plan in two phases aimed at enhancing VALCO's efficiency and boosting its production capacity from 60,000 to over 300,000 metric tonnes annually.

According to him, Phase 1 will involve upgrading production facilities and expanding capacity, implementing energy efficiency measures, undertaking technological upgrades, and modernising the potlines and supporting infrastructure to enhance energy efficiency and operational stability.

Phase 2will see the construction of an in-country alumina refinery, ensuring a stable and cost-effective supply of alumina to VALCO while reducing dependence on imported alumina to feed the VALCO plant. Mr Kamara also emphasised that ASG intends to adopt advanced, sustainable refining processes that offer significant environmental and operational benefits over the traditional Bayer process.

Regarding power supply, Mr Kamara noted that ASG would explore innovative technologies and alternative energy sources within Ghana’s energy mix to ensure a reliable and cost-effective power supply to sustain operations.

The ASG delegation also included David Woodall, Group Operating Director; Wayne Apted, Chief Financial Officer; and Quinton Charaud, a member of the Finance Team.

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About the African Selection Group (ASG)

African Selection Group (ASG) is an Africa-focused, diversified natural resources group building a portfolio of metals and mining assets across the entire value chain on the continent.

ASG’s strategy is to develop a fully funded pipeline of vertically integrated metals and mining projects, operating within a mine-to-market model that leverages downstream capabilities and in-house marketing expertise.

ASG has successfully implemented mine-to-market models for tier-one players in the EMEA region and possesses extensive expertise in in-country risk management.