No $1.2bn Bauxite Deal Cancelled – Lands Ministry
The Ministry of Lands and Natural Resources has rejected reports suggesting the government cancelled a $1.2 billion bauxite lease awarded to Rocksure International.
In a statement issued Wednesday, July 30, the Ministry said the claim is “false, baseless, and misleading,” clarifying that no valid lease with Rocksure ever existed to be cancelled. It explained that while Rocksure was associated with a proposed bauxite project, the lease agreement was never ratified by Ghana’s 8th Parliament before its dissolution in January 2025 a constitutional requirement for all mineral leases.
Referencing a 2019 Supreme Court ruling, the Ministry stated: “A cancellation cannot occur where there was no legal lease in place.”
The Ministry also described the widely reported $1.2 billion valuation of the bauxite deposit as inaccurate and speculative. “There has been no official valuation to support this figure,” it said, warning against misleading figures aimed at provoking public mistrust.
Clarifying further, the Ministry reaffirmed that the Ghana Integrated Aluminium Development Corporation (GIADEC) remains the agency mandated by law to manage the country’s bauxite development strategy. GIADEC is currently engaging investors and overseeing projects including an alumina refinery, an expanded Takoradi Port, a modernised VALCO smelter, and the Western Railway Network all essential to building a fully integrated aluminium industry.
The Ministry concluded by assuring the public that all current bauxite partnerships align with Ghana’s strategic interests and GIADEC’s legal mandate.
