BusinessOil & Gas/Mining

Oti Region: GIISDEC partners with Ghanaian companies to explore iron ore business

In an interview with Asaase News, Kwame Addo Asirifi, the deputy CEO in charge of operations said, "local content participation is a key requirement in Ghana's effort at developing an integrated iron and steel industry"

The Ghana Integrated Iron and Steel Development Corporation (GIISDEC) has entered into strategic partnership with Ghanaian companies to create a balance between foreign investors and local content in that sector.

It would be recalled that, earlier this year, the Minister of Lands and Natural resources Samuel Abu Jinapor led a delegation to visit an iron ore site in Akokrowa in the Oti Region.

During the visit, the CEO of Ghana Geological Survey Authority (GGSA), Dr Daniel Boamah, noted that the iron ore deposits discovered at Akokrowa, a farming community, is of the highest grade currently graded 55.22 weight per cent (fu).

He said the authority had blocked out the reserved areas and was working on it to know the depth and volume of the ore.

On 27 April, GIISDEC conducted a reconnaissance tour to the sites of Akpafu Todzi in the Guan district with some international investors from Dubai, Ukraine, and India who expressed interest in purchasing a block and ready to participate in the sector.

It is for this reason that, Q3 an indigenous Ghanaian company and Shokram Limited, have been selected to acquire iron ore blocks or concessions to engender the active participation of Ghanaians in the iron and steel industry in Ghana.

In an interview with Asaase News, Kwame Addo Asirifi, the deputy CEO in charge of operations said, “local content participation is a key requirement in Ghana’s effort at developing an integrated iron and steel industry hence the efforts to give the opportunity to as many local investors that may come onboard to partner with the industry.”

Solomon Mensah-Ahiable

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