GIADEC open to investment opportunities in the Integrated Aluminium Industry – CEO

The Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah, announced a partnership opportunity. GIADEC seeks global investors who share its vision for an Integrated Aluminium Industry (IAI) in Ghana. These investors should have financial capability and industry expertise.

During an investor session with the African Selection Group (ASG), Mr. Ankrah stated that GIADEC needs over US$6 billion to develop the aluminium value chain fully. He noted that due to Ghana's current economic situation, GIADEC cannot rely solely on government funding. Therefore, it is actively seeking partnerships with committed investors.

John Kamara, Managing Director of ASG, emphasized their aligned business model with GIADEC’s approach. He expressed ASG’s strong interest in Ghana’s aluminium value chain, especially in retrofitting and modernizing the VALCO smelter. Mr. Kamara mentioned that ASG is ready to invest capital soon and implement a strategic plan in two phases.

Phase 1 will focus on upgrading production facilities and expanding capacity. This includes implementing energy efficiency measures and modernizing potlines and infrastructure for better stability.

Phase 2 will involve building an alumina refinery in-country. This will ensure a stable supply of alumina to VALCO while reducing reliance on imports. Mr. Kamara also highlighted ASG's commitment to using advanced refining processes that are more sustainable than traditional methods.

Regarding power supply, Mr. Kamara said ASG would explore innovative technologies and alternative energy sources within Ghana’s energy mix. This aims to provide reliable and cost-effective power for operations.

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

About the African Selection Group (ASG)

African Selection Group (ASG) focuses on natural resources across Africa. It builds a portfolio of metals and mining assets throughout the continent.

ASG aims to develop a fully funded pipeline of vertically integrated projects using a mine-to-market model. This strategy leverages downstream capabilities along with in-house marketing expertise.

ASG has successfully implemented mine-to-market models for top players in the EMEA region and has extensive experience in managing country-specific risks.