- Russia-Africa Summit drives resource and economic partnerships in Africa
- Ghana confirmed its participation in the Russia-Africa Summit, aiming to develop a strategic partnership with the African Union.
- Ghana attends the Russia-Africa Summit where John Mahama seeks a ceasefire agreement from Vladimir Putin.
Rusal and Ghana Agree to Jointly Develop Bauxite and Alumina Projects
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Rusal and the state-owned Ghana Integrated Aluminum Development Corporation agreed to jointly develop bauxite and alumina projects in Ghana. The deal, announced at the Russia-Africa Summit, stipulates that Rusal will hold majority stakes in two joint ventures. The projects include bauxite mining operations, capable of producing up to 5 million tons annually, and the construction of an alumina refinery with a 1.2 million ton annual capacity at the Nyinahin deposit in southwest Ghana.
From cnbcafrica.com
Why it matters
Rusal, the world’s largest aluminium producer outside China, is seeking to reduce its reliance on third-party suppliers after losing approximately 40% of its supplies from Ukraine and Australia in 2022. This agreement allows the company to tap into estimated resources of more than 100 million tons of bauxite in Ghana.
Ghana attended the Russia-Africa Summit, aiming to develop a strategic partnership with the African Union.
From cnbcafrica.com
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- GhanaSpeculative
Ghana might see an increase in direct foreign investment and industrial capacity through the joint venture.
- RusalSpeculative
Rusal could diversify its supply chain and secure a new production base in Ghana.
- AfricaSpeculative
Africa may see an increase in industrial capacity and foreign investment due to Rusal's investment.
- finance ministrySpeculative
The finance ministry could see increased tax and royalty revenue from the new industrial project.
Keep exploring
The entities involved
-
Ghana
country in West Africa
- Nigeria is currently engaged in a competitive landscape against South Africa, Ghana, Egypt, and Kenya for regional and foreign investment, with the Naira's performance being a key factor.
- Ghana seeks diplomatic opportunity and promotes economic cooperation during the Commonwealth gathering in Antigua.
-
Rusal
Russian aluminium company
Nothing else this week.
-
Vladimir Putin
2nd and 4th President of Russia (2000-2008, 2012-present), 7th and 11th Prime Minister of Russia (1999-2000, 2008-2012), Director of the Federal Security Service (1998-1999) and Deputy Mayor of Saint Petersburg (1994-1996)