Ghana is on the path to becoming a major player in the global aluminium industry, following a major breakthrough by the Ghana Integrated Aluminium Development Corporation (GIADEC). The state-owned corporation has secured six mining leases, a move that sets the stage for the full-scale development of the country’s long-envisioned Integrated Aluminium Industry (IAI).

According to Reindorf Twumasi Ankrah, CEO of GIADEC, the leases represent a transformative moment in Ghana’s industrialisation agenda and a critical step toward harnessing an estimated 920 million tonnes of bauxite.

“This is more than a mining operation. It is an industrial transformation agenda. With these leases, we are unlocking the full potential of Ghana’s bauxite resources and laying the foundation for a fully integrated aluminium value chain—from extraction to global export,” Ankrah said in a statement reported by GhanaWeb Business.

The development is in line with President John Dramani Mahama’s broader economic strategy, the “Reset Agenda”, which emphasizes value addition, industrialisation, and sustainable resource management.

“For decades, we exported raw materials while importing finished goods. That model is broken,” Ankrah noted. “Now, we are taking charge—processing our own bauxite into alumina and aluminium, while creating a dynamic downstream sector.”

Investor interest is already mounting. GIADEC has signed a Memorandum of Understanding (MoU) with Emirates Global Aluminium (EGA)—one of the world’s largest aluminium producers—to explore the development of bauxite mines, railway infrastructure, and the expansion of Takoradi Port to support logistics and exports.

“This is not just about mining. We’re building an ecosystem—rail, ports, energy, smelting, refining—everything needed for a truly integrated industry,” Ankrah explained. “We are creating value chains, not just extracting value.”

In parallel, GIADEC is in advanced discussions with U.S.-based Madison Alumina to establish a cutting-edge alumina refinery and aluminium smelter in Ghana. The project is designed to incorporate green technologies, such as processing red mud into cement and caustic soda, and generating up to 5,000MW of solar and renewable energy.

“Our partners bring more than capital. They bring innovation, sustainability, and a focus on high-value production that benefits Ghanaians,” Ankrah said. “We anticipate the creation of over 20,000 direct and indirect jobs through this integrated approach.”

GIADEC is also working to modernise the Volta Aluminium Company (VALCO). The plan is to increase its smelting capacity from 50,000 metric tonnes to 300,000 metric tonnes annually, making it a commercially viable and environmentally sustainable asset.

“We’re not discarding legacy infrastructure—we’re transforming it. The VALCO retrofit will position Ghana as a global competitor in aluminium smelting,” Ankrah noted.

To support further investment, GIADEC is offering three flexible partnership models tailored to meet the needs of international stakeholders:

Credit-Resource Swap: Investors provide infrastructure or financing in return for future supplies of bauxite or alumina.

Long-Term Off-Take Agreements: These guarantee supply through fixed contracts, providing certainty for investors.

Joint Venture Operations: Equity-based partnerships allow investors to share both risks and rewards across the entire aluminium value chain—from mining and refining to infrastructure development.

“These models offer flexibility and security to investors while ensuring Ghana retains strategic control and long-term value from its resources,” Ankrah concluded.