5th November: According to a report in the Ghanaian News, the Ghanaian government and Sinohydro Group Limited reached an agreement regarding a bauxite development project with a total value of USD 2 bln in July 2018. Sinohydro Group Limited is to provide infrastructure construction, including roads and bridges, in exchange for development rights of Ghanaian bauxite. The agreement will now be implemented in 2020. Ghana will mine and refine bauxite with a partner of its choice and will build an aluminium smelter in the next three years.
According to Ghanaian official statistics, Ghana’s bauxite resource reserve is estimated to be in excess of 1.5 bln t, with a total value of USD 554.9 bln.