Ghana has cancelled a $1.2 billion bauxite lease previously awarded to local firm Rocksure International, opting instead to pursue a new strategic partnership with a major international player.
The revoked lease, which covered the bauxite-rich Nyinahin Hills in central Ghana, was never ratified by Parliament—rendering it invalid under a 2019 Supreme Court decision.
The site holds an estimated 376 million metric tons of bauxite and was central to a proposed joint venture between Rocksure and the Ghana Integrated Aluminium Development Corporation (GIADEC).
Under the plan, Rocksure held 70% ownership of the Asante Bauxite Company, while GIADEC and the government shared the remaining stake.
With Ghana holding one of the world’s largest untapped bauxite reserves—around 900 million metric tons—the government is now in advanced talks with potential new partners, including Emirates Global Aluminium (EGA) and Chinese firms.
EGA, which recently signed a memorandum of understanding with GIADEC, had previously considered investing in Ghana but pulled back to protect its interests in Guinea.
GIADEC plans to begin operations at the Nyinahin Block B site early next year. Although no new deals have been finalized, authorities hope the move will unlock greater value from the bauxite sector and raise national output to 2 million tons in 2025, up from 1.7 million tons in 2024.
