29 Jun Ghana to develop bauxite sector with $10 billion Chinese partnership
Ghana has inked a US$10 billion memorandum of understanding (MoU) with China to develop its bauxite industry.
Senior Minister Yaw Osafo-Maafo announced the West African nation’s new partnership with China, which will contribute towards the construction of a railway link between bauxite mines and production sites, at a conference in London.
“To develop the bauxite project with its railway and converting bauxite into aluminium we will need about $10 billion…we signed an MOU,” said Osafo-Maafo.
“The money will come from the Chinese Development Bank, the implementation of the project will come from other infrastructure agencies in China, like China Railway.”
The Chinese funding will contribute towards 1,400km of a 4,000km railway network connecting bauxite mines along with the construction of a rail link to neighbouring Burkina Faso.