In the President’s full State of the Nation Address’ speech, Akufo Addo unveiled plans for his administration to introduce a Legislative Instrument to Parliament aimed at halting the export of raw bauxite from Ghana.
This strategic move aligns with the nation’s overarching goal to bolster its industrialization agenda and foster value addition within its mineral resource sector.
Highlighting the significance of this initiative, President Akufo-Addo emphasized its pivotal role in advancing Ghana’s industrialization efforts.
By curtailing the export of raw bauxite, the government aims to promote downstream processing activities, thereby unlocking greater economic value and sustainable development prospects for the nation.
As Ghana endeavors to harness the full potential of its natural resources, the prohibition on raw bauxite exports signals a pivotal shift towards value-driven industrial practices, underpinning the country’s commitment to fostering economic growth and prosperity through strategic resource management.
Mr. Speaker, to spur our industrialisation, we are implementing the Four Project Agenda of the Ghana Integrated Aluminium Development Corporation (GIADEC), with Projects 1 and 2 having, already, taken off, and last month, we signed an agreement for the implementation of Project.
We will lay before this august House, at this First Meeting of this Session of Parliament, a Legislative Instrument to prohibit the export of bauxite in its raw state,
We are, also, in the concluding phase of discussions for the establishment of a four hundred and fifty million US dollar (US$450 million) refinery to refine the manganese we produce, he remarked.
