Rusal, Ghana agree on 1.2 mln tpy alumina refinery project
MOSCOW. Oct 29 (Interfax) - Russian aluminum giant Rusal and Ghana Integrated Aluminium Development Corporation (GIADEC) have agreed to develop bauxite mining operations in Ghana with annual output of up to 5 million tonnes and to build an alumina refinery with annual capacity of 1.2 million tonnes, Rusal said in a press release.
The agreement was signed in Moscow during the Russia-Africa Forum.
The mining project involves the construction and operation of a bauxite mine at the Nyinahin deposit in the Ashanti Region of southwestern Ghana. Estimated mineral resources in the area of the deposit earmarked for development exceed 100 million tonnes of bauxite. The second phase of the project envisages the construction and operation of an alumina refinery with an annual capacity of 1.2 million tonnes, using bauxite from the Nyinahin deposit. The refinery will use natural gas.
The projects will be implemented through two joint ventures, Nyinahini Bauxite and Ghana Alumina Company. Rusal will hold a majority stake in each company. In accordance with Ghanaian law, the Ghanaian side will hold a minority stake including a 10% non-dilutable stake. The joint ventures will be granted rights to explore for, mine and process bauxite in Ghana as part of the development of Ghana's Integrated Aluminium Industry.
"Our agreement with GIADEC marks an important step in implementing Rusal's strategy to strengthen its own raw material base. Ghana has some of the largest undeveloped bauxite reserves in West Africa, and we see an opportunity to establish an integrated production chain here - from mining 5 million tonnes of ore per year to producing 1.2 million tonnes of alumina. Rusal has been operating in Africa for more than 20 years, and this experience will enable us to implement the Ghanaian projects efficiently, from design through to reaching full production capacity," said Evgeny Nikitin, General Director of Rusal.
Guinea is currently the company's key alumina supplier: Rusal mines bauxite at the Dian-Dian deposit, capacity approximately 3 million tonnes, and operates the Friguia alumina refinery, producing around 2.1 million tonnes of bauxite and 600,000 tonnes of alumina per year. According to Rusal, the company was 89% self-sufficient in alumina at end-H1 2026.
After losing access to the Nikolayev alumina refinery and alumina supplies from Australia in 2022 (these sources accounted for around 40% of consumption of this type of raw material), Rusal experienced a problem with the availability of raw materials, purchasing more than a third of the required alumina on world markets at exchange prices. At least 10% of Rusal's total alumina needs come from Ireland's Aughinish plant, which a number of EU member states have called for inclusion in the sanctions list.
To solve the raw material problem, Rusal acquired 30% of the Chinese alumina producer Hebei Wenfeng New Materials (HWNM) in 2024, receiving a proportional share in the production of this plant which allows the Russian company to claim 1.4 million tonnes of alumina per year. In 2025, Rusal agreed to purchase up to 50% in India's alumina refinery Pioneer Aluminium Industries, located in the state of Andhra Pradesh, with a design capacity of 1.5 million tonnes.
Rusal is also thinking of building a bauxite-alumina complex in Indonesia.
