The effects of the Ukraine – Russia crisis has had considerable impacts on trade and livelihoods. The effects on trade is evident as industry experts have sought to navigate through disrupted supply chains and surge in operational costs. Through it all, we have remained steadfast in delivering our mandate to clients across the globe.
Indeed, now, more than ever, we have received high demands for Ghana Bauxite Company’s (GBC) high grade (typical Al2O3 – 52%) trihydrate bauxite. Due to these high demands and our focus on continuos investment in resource exploration and development, and the adoption of globally acceptable safe and sustainable mining practices has made GBC a company of choice.
In the last year GBC has invested in various capital expenditure projects and has commenced the expansion of the mine and retooling of existing plant and machinery. With the implementation of this activity, it is expected that annual production should increase from 1.2 million metric tonnes to 5 million metric tonnes.
The Company’s potential to operate profitably and contribute to Ghana’s export drive is significant. The current management which assumed office in the last quarter of 2021, has made significant strides to ensure its production capacity increases and improves the efficiency of its operations.
To achieve its targeted 5 million metric tonnes annual production, the current management in the last year has taken the following steps:
- Renewed and Secured a 30-Year Mining Lease effective January 2022;
- Applied and awaiting approval for two additional hills to be added to its current concession;
- Commenced prospecting activities on its existing and additional reserves;
- Explored and secured offtake agreements from new markets for its bauxite sales;
- Initiated operational and management efficiency measures to improve the effectiveness and efficiency of operations and particularly to minimize losses arising out of discrepancies in production yield;
- Embarked on the development of a new mining pit; and
- Initiated discussions with consultants to expand the current stockpile yard at Takoradi port and build a conveyor belt to compliment the port’s 10 million metric tonnes per annum mechanized loading system. With this mechanization system in place, GBC is poised to transport bauxite in excess of 400,000 metric tonnes every month via capsize vessels.
It is also imperative that key players within the value chain understand how they could be guided to take advantage of our expansion plans. On behalf of the Board of Directors, Management, staff of GBC, my appreciation goes to all partners and stakeholders who have shown commitment in the past years. We look forward to beneficial collaboration in the years ahead.