Russian aluminium giant Rusal plans to mine bauxite in Ghana

Russian aluminium giant Rusal is considering a joint venture in Ghana to mine and process bauxite, the raw material used to produce aluminium, Russia’s state news agency RIA has reported, citing a memorandum signed on Thursday, October 29, 2026. The Chief Executive Officer, Evgeny Nikitin, told RIA that the company was targeting an annual bauxite production of 5.0 million metric tons in Ghana and a processing capacity of 1.2 million metric tons per year. The agreement was signed with Ghana Integrated Aluminium Development Corporation (GIADEC) on the sidelines of the Russia-Africa Economic and Humanitarian Forum in Moscow. The agreement will mark Rusal’s first venture in Ghana beyond its established operations in Guinea. Rusal, the world’s largest aluminium producer outside China, already has major bauxite operations in Guinea, where it owns and operates Compagnie des Bauxites de Kindia (CBK), develops the Dian-Dian deposit and runs the Friguia complex. It operates seven bauxite mines worldwide, including two in Russia. The company produced 18.453 million metric tons of bauxite in 2025, with captive production covering 88% of its alumina refineries’ requirements. Rusal’s move aligns with Ghana’s ambitions to boost domestic value‑addition in its bauxite sector. Nyinahin in the Ashanti region has the largest deposit in the country with an estimated 700 million metric tonnes. Awaso, the oldest and currently active mining area in the Western region holds 60 million metric tonnes of reserves. Ghana holds approximately 900 million metric tons of bauxite reserves—the seventh largest globally.