GIADEC, RUSAL agree to build $1.5 billion alumina refinery in Ghana

The Ghana Integrated Aluminium Development Corporation (GIADEC) and Russian aluminium producer RUSAL have signed an agreement to develop bauxite mining and processing operations in Ghana, including the construction of a $1.5 billion alumina refinery.

The agreement, signed in Moscow during the Russia-Africa Forum on October 29, 2026, requires RUSAL to build and jointly operate a refinery with an annual production capacity of 1.2 million tonnes.

The facility will be located at the Nyinahin bauxite deposit and will use natural gas as its energy source.

The project will be implemented through two joint ventures: Nyinahini Bauxite Ltd and Ghana Alumina Company. RUSAL will provide the financing and hold majority stakes in both companies.

The refinery is expected to cost more than $1.5 billion and take approximately 36 months to complete.

A RUSAL spokesperson said the agreement marked an important step towards strengthening the company’s raw material supply chain and establishing an integrated production operation in Ghana.

“Ghana has some of the largest undeveloped bauxite reserves in West Africa, and we see an opportunity to establish an integrated production chain here – from mining 5 million tonnes of ore per year to producing 1.2 million tonnes of alumina,” the spokesperson said.

The spokesperson added that RUSAL’s more than 20 years of experience operating in Africa would support the implementation of the projects, from design to full production.

A GIADEC spokesperson said the agreement aligned with Ghana’s ambition to establish an integrated aluminium industry by processing its bauxite locally.

The spokesperson said the projects were expected to attract investment, create thousands of jobs, improve rail and port infrastructure, and provide opportunities for Ghanaian businesses.

The collaboration will also involve joint exploration of newly identified hills in the Bono, Western, Ashanti and Eastern regions to determine the commercial viability of their bauxite deposits.

GIADEC said the projects would provide opportunities for Ghanaian contractors and suppliers, while creating jobs during both the construction and operational phases.

The corporation was established under the Ghana Integrated Aluminium Development Corporation Act, 2018 (Act 976), to develop and promote a globally competitive integrated aluminium industry in Ghana.

Its mandate includes developing the country’s bauxite resources, supporting local alumina refining and aluminium production, and promoting downstream industries to increase value addition, create jobs and expand export earnings.