Russian aluminium producer Rusal is planning a major investment in Ghana to develop a bauxite deposit and build an alumina refinery, as the West African country seeks to expand its domestic aluminium industry.

Under an agreement with the Ghana Integrated Aluminium Development Corporation (GIADEC), the project is expected to deliver an annual production capacity of 5 million tonnes of bauxite and 1.2 million tonnes of alumina.

The development will focus on the Nyinahin bauxite deposit in Ghana’s Ashanti Region, where mineral resources are estimated at more than 100 million tonnes.

The project will be structured around two joint ventures: one responsible for mining operations and another for the construction and operation of the alumina refinery. Rusal is expected to hold majority stakes in both ventures, while the Ghanaian side will retain minority ownership.

The planned refinery will process locally extracted bauxite into alumina, a key raw material used in aluminium production. This would allow Ghana to move beyond exporting unprocessed minerals and capture more value from its natural resources.

For Rusal, the investment would help secure access to bauxite and alumina supplies, strengthening its raw-material supply chain. The company already operates mining and industrial assets in several countries, including Guinea.

The project forms part of Ghana’s broader strategy to develop an integrated aluminium industry, covering the extraction of bauxite, its processing into alumina and the production of aluminium.

However, key details, including the total investment cost and construction timeline, have yet to be fully disclosed. The project's implementation will also depend on financing, energy supply and the development of supporting infrastructure.

If completed as planned, the project could strengthen Ghana’s position in the global aluminium value chain while creating new opportunities for local industrial development.