Ghana cancels bauxite lease with Rocksure
Ghana has revoked a $1.2 billion bauxite lease awarded to local mining firm Rocksure International and is now exploring partnerships with major international companies to exploit one of West Africa’s richest bauxite reserves.
Potential collaborators include Emirates Global Aluminium (EGA) from Dubai and several Chinese firms. The terminated lease pertained to the Nyinahin Hills in central Ghana, which holds around 376 million tons of bauxite. This deposit had been the cornerstone of a joint venture between Rocksure and the state-owned Ghana Integrated Aluminium Development Corporation (GIADEC), with Rocksure owning a 70% stake, GIADEC 20%, and the Ghanaian government 10%.
2019 Supreme Court decision.
However, the agreement was never ratified by parliament, making it legally void under a 2019 Supreme Court decision. As a result, the Ministry of Lands and Natural Resources informed Rocksure of the lease’s invalidation. Rocksure has not publicly commented, and GIADEC declined to speak on the matter, citing ongoing discussions.
GIADEC is now in talks with new investors, notably EGA, which signed a memorandum of understanding with the corporation in June. EGA, which previously lost its mining license in Guinea due to project delays, is evaluating the feasibility of investing in Ghana. Although no formal deal has been reached, discussions are reportedly at an advanced stage.
Extraction from Block B part of the Nyinahin deposit is expected to commence in early 2026. Ghana, while a top gold producer, trails behind Guinea in bauxite output. However, the Ghana Chamber of Mines forecasts that national bauxite production will increase to 2 million tons in 2025, up from a record 1.7 million tons in 2024, driven by renewed investor interest and government efforts to build refining capacity.
