Lands Ministry Debunks False Reports On Alleged $1.2 Billion Bauxite Lease Cancellation

The Ministry of Lands and Natural Resources has come out to clarify misconceptions surrounding the development of Ghana’s bauxite resources. Contrary to media reports, the government has not cancelled a $1.2 billion bauxite lease awarded to Rocksure International. Instead, the Ministry explains that no valid lease was ever awarded to the company, rendering any claims of cancellation baseless.

No Valid Lease Awarded

According to the Ministry, the purported lease was never ratified by the 8th Parliament of Ghana before its dissolution on January 6, 2025. As per a 2019 Supreme Court ruling, unratified leases are considered legally void. This means that Rocksure International never had a legitimate claim to the lease in the first place.

Unsubstantiated Valuation Claims
The Ministry also disputes the alleged valuation of the bauxite deposits at $1.2 billion, calling it “unsubstantiated and grossly misleading.” There has been no official valuation of the project or resource deposit at that amount, and the Ministry suspects that the figure was deliberately fabricated to create public controversy.

GIADEC’s Mandate

The Ghana Integrated Aluminium Development Corporation (GIADEC) was established to develop and promote an integrated aluminium industry in Ghana. Its mandate includes ¹ ²:
– *Securing Financing*: GIADEC is tasked with securing funding for bauxite resource development.
– *Infrastructure Development*: The corporation will drive key infrastructure projects, including the Western Railway Network and Takoradi Port Expansion.
– *Alumina Refinery and Smelter Development*: GIADEC aims to develop an alumina refinery and a new aluminium smelter.
– *VALCO Retrofit*: The corporation will also retrofit VALCO for enhanced operational and commercial efficiency.

Conclusion

The Ministry of Lands and Natural Resources urges the public to disregard unfounded allegations surrounding the development of Ghana’s bauxite resources. The Ministry remains committed to transparency, accountability, and realizing President Mahama’s vision of establishing Africa’s leading integrated aluminium hub.

Source: Ama Mawusi Mawuenyefia, Director of Communications at the Ministry of Lands and Natural Resources.