The government has cancelled a $1.2 billion bauxite lease with local company Rocksure International and is now seeking to partner with a major international investor to develop the Nyinahin bauxite reserves.
Also Read
According to sources familiar with the matter, the state is in talks with Emirates Global Aluminium (EGA) of Dubai and several Chinese firms to explore new investment options. The move signals a shift in strategy aimed at unlocking the country’s vast bauxite potential, estimated at 900 million metric tons.
The terminated deal involved a joint venture between Rocksure (70%), the Ghana Integrated Aluminium Development Corporation (GIADEC) (20%), and the government (10%). However, the lease was never ratified by Parliament, rendering it void under a 2019 Supreme Court ruling.
“By the Exton Cubic ruling, without ratification, you have no lease,” a source noted.
Though Rocksure has not officially commented, reports indicate that GIADEC has withdrawn from the joint venture. Negotiations with new partners are ongoing, with EGA confirming that it signed a memorandum of understanding with GIADEC in June to assess the feasibility of a new project.
GIADEC aims to commence bauxite extraction from Nyinahin’s Block B by early 2026. The Ghana Chamber of Mines expects national output to hit 2 million tons next year, up from a record 1.7 million tons in 2025.
