According to the Chief Executive Officer of the Integrated Aluminium Development Corporation (GIADEC), Michael Ansah, GIADEC will 30 percent minimum stake in companies that will be selected to mine Ghana’s bauxite.
This is made possible through the Act which brought GIADEC into being which states that it must have a 30 percent minimum stake of all mining entities that mine the country’s bauxite.
According to the Chief Executive Officer of the Integrated Aluminium Development Corporation (GIADEC), Michael Ansah the corporation is seeking to build mining and refinery in the country to process bauxite from mining to the refinery to smelting.
Ghana is ranked 8th in the world of accumulation bauxite of over 900 million metric tonnes of bauxite reserves. Ghana is indeed endowed in bauxite reserves.
According to reliable information sighted by straightnewsonline Mr. Michael Ansah, CEO of GIADEC indicates that the corporation is advancing plans to categorize four bauxite mining concessions. “So at the various bauxite mining areas in the country, we want to break them into four mining concessions of mining companies that will mine bauxite between 3-5 million metric tonnes,” he noted.
He also revealed that GIADEC, by the end of the first or second quarter of 2020 will select companies to begin mining the country’s bauxite reserves. GIADEC, developed by the government, is to aid industrial transformation and accelerate the development of the Ghanaian economy.
These huge reserves of bauxite are amazing and care must be taken to ensure best practices in mining to forestall environmental degradation. Best and modern technological practices should be employed to prevent land, air, water pollutions, and nearby residents. Additionally, it is advised that all the bauxite deposits should not be mined and that reasonable metric tonne should be left for future generations. Ghanaians hope fervently that the good plans of GIADEC will carefully, faithfully, prudently and competently carried out in 2020 for the good of mother Ghana.