Ghana Bauxite Company partners with Ecobank for US$250m expansion

Ghana Bauxite Company Limited (GBC) has signed a strategic agreement with Ecobank Ghana PLC to mobilise up to US$250 million. Ecobank has been appointed as the exclusive mandated arranger to structure and syndicate the financing, which will include a term loan and a revolving credit facility.

The funds are intended to support GBC’s expansion and the development of a fully integrated aluminium industry in Ghana. Specifically, the financing will target the upgrading of the Awaso mine in the Western North Region, covering capital expenditures, mining equipment, logistics, and material-handling systems to improve operational efficiency.

This initiative aligns with the Ghana Integrated Aluminium Development Corporation (GIADEC) strategy to transition the nation from a raw bauxite exporter to an integrated producer. Currently, Ghana lacks a domestic alumina refinery, forcing the Volta Aluminium Company Limited (VALCO) smelter to import refined alumina. GBC has already seen significant growth, with bauxite exports increasing from approximately 773,213 metric tonnes in 2022 to 2.07 million metric tonnes in 2025.