The Ministry of Lands and Natural Resources has dismissed reports claiming the government cancelled a $1.2 billion bauxite lease awarded to local firm Rocksure International in favour of foreign investors.
In a statement on Wednesday (30 July) the Ministry said no valid lease ever existed, as the agreement was never ratified by Parliament—rendering it legally void under a 2019 Supreme Court ruling.
“A cancellation cannot exist where there was no valid lease,” the Ministry clarified.
It also disputed the widely circulated $1.2 billion valuation of the Nyinahin deposit, describing the figure as unverified and misleading.
The statement reaffirmed the role of the Ghana Integrated Aluminium Development Corporation (GIADEC) in managing the country’s bauxite resources and partnerships under Ghana’s integrated aluminium industry plan.
