Moscow, 29 October 2026 – RUSAL, one of the world’s largest aluminium producers, and the 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 an annual capacity of 1.2 million tonnes. 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 Evgeniy Nikitin, General Director of RUSAL.

“The agreement fully aligns with GIADEC’s goal of establishing an integrated aluminium industry in Ghana that will enable us to process our bauxite domestically. In RUSAL, a company with extensive technological expertise and many years of successful experience in Africa, we have found a partner capable of delivering on these objectives. The Nyinahin projects will bring investment, thousands of jobs, improvements to rail and port infrastructure, and new opportunities for Ghanaian businesses,” said Reindorf Twumasi Ankrah, Chief Executive Officer of GIADEC.

The projects envisage broad participation by the Ghanaian side. In addition to its equity stakes in the joint ventures, this will include job creation during construction and operations, the involvement of local contractors and suppliers, and the development of transport infrastructure in Ghana, which will provide a boost to the local economy.