ABL Appeals To Government To Ratify Nyinahin Mining Lease

The Ashanti Bauxite Limited (ABL), a joint venture between the Ghana Integrated Aluminium Development Corporation (GIADEC) and Rocksure International Limited has appealed to the government of Ghana to expedite action on the ratification of the Nyinahin Block B Bauxite Mining Lease Agreement.

The joint venture is aiming to develop a bauxite mine and integrated refinery in the Nyinahin-Mpasaaso area of the Ashanti Region.

Complimenting this call to expedite action on the ratification is the people in the Tano Offin Forest Belt, together with main Asante groups (Asante Kotoko Society, ROSACH, etc) of the Ashanti Region, who have expressed strong support for the mining lease agreement between the Government of the Republic of Ghana and Ashanti Bauxite Limited (ABL).

Realisation of this goal, according to ABL,will lead to an immeasurable economic development in the Atwima Mponua and its surrounding communities, and for Ghana as a whole.

In a news release issued and copied to The Chronicle over the weekend, the group explained that on July 16, 2024 Parliament was presented with the mining lease between ABL and the government of Ghana, however, the agreement has not been ratified.

It has, therefore, asked the government to give their lease a top priority and ratify it for onward operationalisation of the Nyinahin Block B Bauxite Mining Lease Agreement.

“We, the community members, are demanding that this agreement should be ratified for ABL to start work or the government should not bring any other company to their land to extract the bauxite.”

The ABL statement follows a delay in ratification of the Nyinahin Block B Bauxite Mining Lease Agreement,having presented it before the 8th Parliament.

In a daring assertion to Jubilee House,ABL mentioned that they are sending a strong message to the government to see to the ratification of the Mining Lease Agreement, which was laid in the 8th Parliament on 16th July, 2024 and still pending in the 9th Parliament.

“We, the community members, are demanding that this agreement should be ratified for ABL to start work or the government should not bring any other company to their land to extract the bauxite. It subsequently asked authorities to sign up to the mining lease.

“We are, therefore, on this day calling on the government to ensure that the agreement, which was executed on May 14, 2024between the Ghana Government and Asante Bauxite Limited, currently awaiting ratification by Parliament, is ratified during this parliamentary session, before the first rise, to pave way for the company to start work.

Key Highlights of the Agreement

On the composition of the lease, ABL disclosed that the Government, through the Ghana Integrated Aluminium Development Corporation (GIADEC), holds a 30% equity stake in ABL, with 10% as a carried interest.

Local Employment: Projecting employment for local folks in the AtwimaMponua district and its enclave,where the Nyinahin Block B Bauxite Mining will be operationalised, ABL disclosed that during the prospecting phase, approximately 80% of the workforce were local community members.

“This trend is expected to continue, providing significant employment opportunities.Growth and sustainability Levy and Community.”

 Development Fund: it noted that it is committed to pay 3% of its revenue towards Growth and Sustainability Levy to the government which the community will benefit. Additionally, the company is committed to establish a Community Development Fund.

This fund aims to address critical infrastructure and social amenities, including schools, hospitals, roads, water, and electricity in the mining communities.

Refinery Development: As part of its commitment to adding value to Ghana’s bauxite resources, ABL has revealed plans to develop a bauxite refinery in the Nyinahin-Mpasaaso area. This refinery, according to ABL, will process bauxite into alumina, contributing to the establishment of an Integrated Aluminium Industry in Ghana.

Environmental Stewardship:

The company has pledged to adopt measures to prevent environmental degradation, ensuring the protection of local water bodies and ecosystems.

Economic Growth: It indicted that the establishment of the bauxite refinery is anticipated to generate employment and stimulate local economic activities, further enhancing the region’s development,adding that the community leaders commend the transparent and inclusive approach taken by GIADEC and ABL, noting that previous exploration efforts were unsuccessful, making this development particularly significant.

They, therefore, have expressed confidence that the mining operations and refinery development will commence promptly upon parliamentary ratification, bringing tangible benefits to the Ashanti region and Ghana in general.

The post ABL Appeals To Government To Ratify Nyinahin Mining Lease appeared first on The Ghanaian Chronicle.

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