Vice President Dr Mahamudu Bawumia, has disclosed that government is preparing to present a legal framework for the establishment of an Integrated Bauxite Authority to Parliament.
He made this known at this year’s National Policy Summit on the Economy underway in Kumasi under the theme: “Assessing the Growth, Jobs and Prosperity Agenda”.
The Vice President signalled government’s moves to explore Ghana’s vast bauxite deposit by setting up an integrated aluminium industry, to help add value to its untapped bauxite reserves for economic growth.
“Relying on unprocessed mineral resources and raw agricultural products, is making the economy vulnerable and dependent to current global commodity trends,” he stated.
He added that value addition tied in with the Ghana Beyond Aid programme was a potential for job creation.
He said the step was central to stabilizing the macro-economy and that Ghana was moving steadily to setting up the integrated aluminium industry.
Ghana has one of the richest bauxite deposits in the world with the potential to produce 10 million metric tons of alumina annually, a production trend that could last over 50 years.
The 2018 National Policy Summit is a major flagship programme of the Ministry of Information and supported by the Universal Merchant Bank (UMB).
It brought together policy makers, business leaders, chiefs, civil society organizations and other key stakeholders.
The two-day event, the first to be held outside Accra, is aimed among others to create a platform for policy dialogue among the participants.