Ghana's economy is set to receive a significant boost with the Ghana Manganese Company Limited's (GMC) planned $450 million manganese refinery Tarkwa in the Western region.
This project aims to enhance the value of Ghana's manganese exports by improving the grade of manganese ore from 26.5% to over 40% through refining processes.
The president, Nana Addo Danquah Akufo-Addo, is expected to cut sod by the end of this month for the commencement of the project.
The first phase, valued at $240 million, will involve constructing a 45MW gas-powered plant and a refinery with a 2 million tonnes per annum capacity. Completion is expected within 24 months, with a sod-cutting ceremony slated for October 2024.
Key Benefits
Speaking with members of the Journalists for Business Advocacy (JBA), when the group in partnership with the Ghana Chamber of Mines paid a courtesy call on the company, the Managing Director of GMC, Joseph Ampong, noted that processing manganese locally will generate more revenue, with export earnings expected to increase by at least 50%.
He added that the refinery will create over 1,000 direct and indirect employment opportunities for Ghanaians during construction and operation.
The refinery will reduce Ghana's dependence on raw material exports, promoting economic diversification and resilience and also stimulate local content development, encouraging Ghanaian businesses to provide goods and services to the mining industry he stressed.
The refinery will facilitate technology transfer, enhancing Ghana's technical capabilities and expertise.
Challenges Ahead
However, two major hurdles need to be overcome: reliable and affordable power supply, and a functional railway system. GMC's Managing Director, Joseph Ampong, emphasized the need for 45,000MW of power supply, which will be sourced from Genser's gas-based power. The company is also working to obtain natural gas from Ghana Gas Company to power a dedicated thermal plant.
Ghana Manganese Company Limited (GMC) has grown over 105 years to become one of the leading producers of manganese carbonate ore, committed to responsible mining.
GMC is the only manganese producer and exporter in Ghana. The company is a privately-owned mining company (consolidated Minerals Africa Limited -90% and Government of Ghana-10% free carried) that holds a mining concession for manganese ore over an area of 170 square kilometers in and around Nsuta in the Western Region of Ghana, less than 3% of which has been mined to date.
Source: Kofi Ahovi
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