Under Pillar 4 of the New Economy Programme, the Minister of Finance Dr Cassiel Ato Forson, has said that the government is going to undertake a US$1.5 Billion Investment in Critical Minerals Value Addition.
He said the investment is going to focus on four major minerals: Manganese; Bauxite; Lithium; Gold.
Under gold, he said that they are going to refine at least 70% of artisanal and small-scale gold locally by December 2027 and increase local refining to 100% by December 2028.
“Prohibit exports of raw artisanal, small-scale and medium-scale gold from 2028,” he said.
For manganese and bauxite, he said they are going to process at least 50% locally by the end of 2028. Achieve 100% local processing by the end of 2030.
“Prohibit raw manganese and bauxite exports by 2030. Use bauxite for alumina refining and aluminium smelting,” he said.
Under Lithium, he said they are going to begin with local lithium refining.
“Progressively develop the capacity to produce: Battery-grade chemicals. Battery components. Battery cells. Critical minerals processing infrastructure,” he said during the 2027 budget presentation in Parliament on Thursday, November 12.
Dr Forson further stated that the government will establish a 24-hour critical minerals processing enclave in the Western Region.
“Construct a railway line from Takoradi to Nyinahin beginning in 2027. Connect major mineral-producing towns, including Nsuta and Awaso. Transport manganese and bauxite to the Western Region for local processing.
Develop Takoradi Port as Ghana’s principal maritime gateway to the Sahel. Extend the railway from Nyinahin to Hamile in the Upper West Region by 2030. Establish a modern inland port at Hamile to serve Burkina Faso, Mali, Niger and the wider Sahel,” he said.
