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Ghana Signs $10 Billion Bauxite Project Agreement With China

  • Memorandum of understanding includes refineries, railways
  • Two countries in talks over terms of a final agreement
Ghana's Capital City
Photographer: Ty Wright/Bloomberg
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Ghana signed an agreement with China that may culminate in the development of a $10 billion bauxite venture that will include the construction of alumina refineries and railway infrastructure, according to a senior government official.

The two countries agreed to a memorandum of understanding in which China will provide funding for the project to exploit the West African nation’s 960 million metric tons of bauxite deposits, Gideon Boako, an economic adviser for Ghanaian Vice President Mahamudu Bawumia, said in a broadcast Wednesday on Accra-based Citi FM.