President Akufo-Addo, in his address during the 67th independence anniversary speech on March 6, expressed optimism about the future of Ghana despite prevailing economic challenges. He highlighted two transformative projects in bauxite and salt mining that are expected to significantly boost the country’s economy.
The President emphasized that despite difficult economic circumstances, Ghana has overcome the worst and should look forward to better times ahead. The ceremony, held in Koforidua under the theme “Our Democracy, Our Pride,” provided a platform for President Akufo-Addo to share his vision for the nation’s economic transformation.
Regarding the bauxite sector, President Akufo-Addo announced the successful selection of strategic partners to work with the Ghana Integrated Aluminium Development Corporation (GIADEC) on the Integrated Aluminium Industry (IAI) projects.
These projects include the construction of a new alumina refinery and the development of mines at Nyinahin-Mpasaaso. Two agreements were recently signed in Accra, one with Rocksure International and another with Mytilineos SA, to develop mines and establish a refinery.
This initiative aims to refine bauxite mined in Ghana to produce alumina, which will fuel the VALCO smelter and downstream aluminum industry, driving Ghanaian industrialization and creating employment opportunities.
In the salt mining sector, President Akufo-Addo highlighted the Ada Songhor Salt project spearheaded by Electrochem Salt Mine Ltd, led by Ghanaian entrepreneur Mr. Daniel McKorley. After years of disputes, work has finally commenced on mining salt on a large commercial scale.
With the capacity to produce up to two million metric tonnes of salt annually at 99.99% purity, the Electrochem Salt Mine will become the largest salt-producing facility in Africa, significantly impacting Ghana’s economy.
These projects represent a significant step forward in Ghana’s economic development and demonstrate the government’s commitment to creating opportunities for growth and prosperity. President Akufo-Addo expressed confidence that these initiatives, along with other government efforts, will lead to a breakthrough in Ghana’s economic fortunes, bringing hope and optimism to the nation.