Rocksure & GIADEC Present MRE results of Nyinahin Bauxite project to President
In a significant step towards the realization of Ghana's national objective to add value to bauxite mining, the Ghana Integrated Aluminium Development Corporation (GIADEC) and its partner for Project 2, Rocksure International, have presented the Mineral Resource Estimate (MRE) results on Nyinahin Block B (Hills 4, 5, and 6) of the Nyinahin hills in the Ashanti region to President Akufo-Addo.
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Bauxite Project Update
Ghana’s economic performance has seen an increased growth over the years, thanks to efforts from different industries to push the country in the direction of sustainability and increased financial independence worthy of promising global investments. As part of the vision of the Government of Ghana to build a Ghana Beyond Aid, the country took a step forward in the direction of increased efforts to utilize untapped natural resource deposits in the country. This is through the establishment of the Ghana Integrated Aluminium Development Corporation (GIADEC), by an Act of Parliament: GIADEC Act, 2018, (Act 976) with the mandate to promote and develop an Integrated Aluminium Industry in Ghana.
Ghana’s current Bauxite Resources held in trust by GIADEC, includes but is not limited to bauxite resources in Awaso, Nyinahin and Kyebi, with a total estimated resources at the time amounting to 900 million tonnes. The Nyinahin Bauxite Resources stretches on a strike length of over 35 kilometers and has been divided into 3 individual Blocks: Blocks A, B and C, with Block A near Nyinahin, Block C near Mpassaso and Block B in the middle. The Kyebi and Awaso Bauxite Resources remain as individuals.
After three rounds of investor engagements, GIADEC selected Rocksure as the 1st strategic Partner for the implementation of GIADEC’s Project 2 (Mining of Nyinahin Block B Bauxite Deposit and Providing a Refinery Solution).
Through an intensive exploration programme, Rocksure has completed a JORC compliant Mineral Resources Estimation of the Nyinahin Block B Deposit. Rocksure then produced a Mine Feasibility Study Report, which incorporates environmental baseline study and refinery solution reports. A Mining Lease for Ashanti Bauxite Limited, the JV Company between Rocksure (70% shareholding), GIADEC (20% shareholding) and Government of Ghana (10% free carried interest), and Parliament’s ratification of the Mining Lease is expected soon. Immediately thereafter, development of the mine by EPCM will start.
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