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Rusal to get majority stake in two joint ventures in Ghana

The project involves developing the Nyinahini deposit in the Ashanti Region in the southwest of the country

MOSCOW, October 29. /TASS/. Rusal will acquire a majority stake in two joint ventures to be established to develop a bauxite deposit and build an alumina refinery in Ghana, the Russian aluminum producer said after signing of an agreement with the Ghana Integrated Aluminium Development Corporation (GIADEC).

The project involves developing the Nyinahini deposit in the Ashanti Region in the southwest of the country, with resources estimated at more than 100 million metric tons of bauxites, Rusal said. The second phase plans the construction of a natural gas-powered alumina refinery with a capacity of 1.2 million metric tons per year, using bauxites from the Nyinahini deposit.

Two joint ventures, Nyinahini Bauxite and Ghana Alumina Company, are being created to implement the projects. Rusal will hold a majority stake in them, while Ghana will hold a minority stake, including a legally protected non-dilutable 10% share. The joint ventures will receive rights for the exploration, mining, and processing of bauxite as part of the development of Ghana's integrated aluminum industry, Rusal said.

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