Emmanuel Armah Kofi Buah Outlines Ghana's Strategic Industrial Shift as GIADEC Seeks 2-Million-Tonne Aluminium Refinery

15th July•3 min read•14 sources

The Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah, has announced a significant expansion of Ghana’s industrial capacity, headlined by a move to establish a two-million-metric-tonne-per-year aluminium refinery. This ambitious project, led by the Ghana Integrated Aluminium Development Corporation (GIADEC) in partnership with private investors, is a cornerstone of the government’s industrialization agenda. To support this infrastructure, GIADEC is collaborating with the Tema Development Corporation to develop the Tema Industrial Park Limited. Expected to be completed within 36 months, the park will serve as a specialized hub for downstream aluminium manufacturing, including a proposed aluminium foil plant capable of producing up to 50,000 tonnes annually.

A critical component of this transformation is the evolution of the Volta Aluminium Company Limited (VALCO). Minister Buah revealed that VALCO is successfully transitioning from its historical focus on primary aluminium production to the manufacture of high-value aluminium products for both domestic and European markets. This shift is already yielding results; VALCO reported a strong performance in the first half of 2026, bolstered by the installation of a new aluminium electrical rod mill. Currently in its test production phase, the mill is designed to supply high-grade rods for local industrial use and export, effectively reducing the nation’s reliance on imported metal products while creating sustainable jobs.

Beyond the aluminium sector, the government is reporting significant milestones in the iron and oil industries to strengthen economic resilience. The Ghana Integrated Iron and Steel Development Corporation (GIISDEC) has identified high-grade iron ore deposits in the Oti Region, positioning the area for major future mining investments. Simultaneously, the upstream oil and gas sector is witnessing a rebound. Completion of five out of six Jubilee wells has pushed production in that field past 94,000 barrels per day (bopd), with combined output from the Jubilee and TEN fields now exceeding 100,000 bopd. This energy surge is complemented by a reduction in gas prices to $2.50 per MMBtu, a move intended to lower energy costs for local manufacturers and support the transition to cleaner energy sources.

These integrated developments reflect a strategic vision to capture the full value of Ghana's natural resources. By moving away from the export of raw minerals toward high-value manufacturing and stable energy production, the government aims to insulate the economy from global commodity price volatility. Minister Buah emphasized that these projects are not merely industrial milestones but are vital for job creation and enhancing Ghana’s competitive position in the global market. As the Tema Industrial Park progresses and refinery investors are secured, Ghana is positioning itself as a primary industrial hub for the West African sub-region and beyond.

This story touches markets covered on Anansi Intelligence ↗.

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Emmanuel Armah Kofi Buah Outlines Ghana's Strategic Industrial Shift as GIADEC Seeks 2-Million-Tonne Aluminium Refinery

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