State-owned Volta Aluminum Company Limited (VALCO)is expected to breathe a sigh of relief,following a fruitful engagement between the government and Russian investors from UC RUSAL, who had expressed interest to invest massively, in Ghana’s Bauxite sector.
The successful meeting, which took place on Friday, November 12, 2021 in Russia, was led by the Deputy Minister of Lands and Natural Resources in charge of mines, George Mireku Duker on behalf of the sector Minister, Samuel Abu Jinapor.
Hon. Duker together with Ghana’s Ambassador to Russia and other officials at a meeting officials of UC RUSAL
UC RUSAL, is a top Russian firm and currently the second largest primary producer of Aluminum just behind China Hongqiao Group, runs operations along the value chain namely; Mining, Refinery Solution, Smelting and Production of finished goods of the bauxite industry globally.
Mr Mireku Duker, who was accompanied by the Ghana’s Ambassador to Russia and other officials,the engagement withthe UC RUSAL officials,will pave way for their visit to Ghana on December 6, 2021.
The Deputy Lands Minister and his team in photograph with Russian investors after the emgagement
In a statement, the Deputy Minister, said the planned visit is likely to see VALCO being revamped as Government is determined to build a robust integrated bauxite industry.
“As Ghana Government is very determined to build robust integrated bauxite industry, their planned visit is likely to see VALCO being revamped”.
According to him, “whiles in Ghana, the UC RUSAL delegation will also visit the various bauxite-endowed areas, thus Awaso and Nyinahin in the Western-North and Ashanti Regions respectively; as part of their investment tour”.
The minister in photo with colleague Deputy Ministers for Mines from other African countries
He indicated that, the Ghana Integrated Aluminium Development Corporation (GIADEC) is, however, charged to lead the negotiation.
On behalf of the sector minister, Mr Mireku Duker, who is the Member of Parliament (MP) for Tarkwa-Nsuaem Constituency, assured investors of government’s commitment of creating enabling working environment for reputable investors in Ghana.
He noted that, as a country, we will continue to engage to have a win win situation for both investors and government.
Plenary KPCS Meeting
In a related development,Mr Mireku Duker, has led Ghana’s delegation to the 2021 Plenary Meeting of the Kimberley Process Certification Scheme (KPCS).
The KPCS, is a joint government, industry and civil society initiative, to prevent the illicit trade of rough diamonds, which generates revenue flows for funding conflicts, especially by rebels against legitimate governments.
The delegation, was made up of officials from the Ministry, the Minerals Commission, as well as officials from the Precious Minerals Marketing Company Limited.
Legitimate governments of diamond-producing countries, can only sell their diamond production on the international market, if they are members of the Scheme and comply with its stringent requirements, to give assurance that the diamonds are not contaminated with “conflict”/” blood” ones.
But in order to ensure compliance with the KPCS requirements, Ghana passed the Kimberley Process Certificate Act, 2003 (Act 652) to guide its operations.
At the event, the Deputy Minister, used the opportunity to hold meetings with colleague Deputy Ministers for Mines from other African countries such as; Botswana and Zimbabwe for collaboration to ensure the Scheme continues to impact positively on member countries, especially on the African continent.
He commended the two countries for taking up the mantle, as the new KP Chair and Vice Chair, respectively for 2022.
Mr Mireku Duker, suggested on the need to strengthen the Kimberley Process Secretariat for Ghana which used to be housed at the PMMC.