The Ministry of Lands and Natural Resources (MLNR) has firmly denied reports circulating in sections of the media suggesting that the government has cancelled a $1.2 billion bauxite lease awarded to local mining firm, Rocksure International.
In a statement released on Tuesday, July 30, 2025, and signed by Ama Mawusi Mawuenyefia, Director of Communications at Ministry of Lands & Natural Resources, described the reports as “false, baseless, and misleading,” insisting that no such lease agreement ever existed to warrant cancellation.
No Valid Lease Was Ever Ratified
The Ministry clarified that Rocksure International never held a valid bauxite lease.
According to the statement, the purported lease—along with others—was not ratified by the 8th Parliament of Ghana prior to its dissolution on January 6, 2025.
A 2019 Supreme Court ruling requires parliamentary ratification of mineral leases for them to be legally binding.
Therefore, the alleged lease is considered void under the law.
$1.2 Billion Valuation Dismissed
The Ministry also dismissed the widely reported $1.2 billion valuation of the bauxite project as “unsubstantiated and grossly misleading.”
It noted that no official valuation has been conducted to support such a figure, describing the claim as a deliberate attempt to stir public controversy.
GIADEC’s Role and Strategic Objectives
The Ministry reaffirmed the mandate of the Ghana Integrated Aluminium Development Corporation (GIADEC), the government agency tasked with spearheading the development of an integrated aluminium industry in Ghana.
GIADEC is responsible for securing investment, expanding key infrastructure like the Western Railway and Takoradi Port, establishing an alumina refinery and smelter, and modernising the Volta Aluminium Company (VALCO).
The Ministry emphasised that GIADEC continues to work with strategic investors in line with its long-term commercial vision to maximise Ghana’s bauxite potential.
The Ministry expressed concern that the media reports fueling the controversy cited no credible official sources.
It noted that the reports vaguely referenced unnamed individuals and acknowledged that all principal entities involved—MLNR, GIADEC, and Rocksure International—declined to comment on the matter.
“These unfounded allegations appear designed to malign the Ministry and GIADEC, undermine public confidence, and potentially deter investors,” the statement read.
Source: Classfmonline.com
