China’s bid to rein in exports roils aluminum stocks and prices
China’s cancellation of tax relief on exports has left the aluminum industry scrambling to assess the impact on supply flows.
Ghana is on a roadshow to find a strategic partner to “revamp” state-owned Volta Aluminum Company’s (VALCO) aluminium smelter, Ghana Lands and Natural Resources minister Samuel Jinapor said on Monday at the Africa CEO Forum conference in Abidjan.
Jinapor said Ghana, which has ample reserves of aluminium ore bauxite, aims to create an integrated aluminium industry in the country.
“Today we are insisting … that exploration, prospecting, mining, refining, smelting, the downstream industry, all of it must be in Ghana,” Jinapor said.
Ghana’s push to expand domestic processing capabilities echoes a move by Africa’s top bauxite producer, Guinea, which is requiring miners to build alumina refineries in the country.
Jinapor did not specify how much the government is looking to get from a strategic partner to fund the smelter upgrade.
(By Bate Felix, Nellie Peyton and Helen Reid; Editing by Jan Harvey and David Evans)
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