After losing the Mykolaiv Alumina Plant, Rusal agreed on a new plant in Africa

The Russian aluminum company Rusal, founded by Oleg Deripaska, has reached an agreement with Ghana to develop a bauxite deposit and build a new alumina refinery. The company, which previously controlled the Mykolaiv Alumina Plant (MAP), plans to mine up to 5 million tonnes of bauxite per year in the African country and produce 1.2 million tonnes of alumina. Interfax reported the agreement on October 29, 2026.

The agreement was signed with the state-owned Ghana Integrated Aluminium Industry Development Corporation (GIADEC) during the “Russia–Africa” forum in Moscow.

The project will be based on the Nyinahin deposit, located in the Ashanti Region of southwestern Ghana. The bauxite reserves in the area slated for development are estimated at more than 100 million tonnes.

The project has two phases. First, the partners are to establish a bauxite mining operation with a capacity of up to 5 million tonnes per year. The next phase will be the construction of an alumina refinery capable of producing 1.2 million tonnes of product per year from local raw materials. Natural gas is planned as the fuel for the new facility.

To implement the agreement, two joint ventures will be established: Nyinahini Bauxite and Ghana Alumina Company. Rusal will hold controlling stakes in both. The Ghanaian side will receive minority stakes, including a guaranteed 10% share that will not be subject to dilution.

The Russian company says that expanding its operations in Africa is part of its strategy to strengthen its own raw-material base.

In addition to the project in Ghana, Rusal is developing bauxite mining and alumina production in Guinea, has acquired a stake in a Chinese alumina producer, and has agreed to consider participating in the construction of a similar facility in India.

The need for new sources of raw materials became more pressing after 2022, when the Russian company lost access to the Mykolaiv Alumina Plant and alumina supplies from Australia. According to Interfax, these sources previously accounted for about 40% of Rusal’s alumina needs.

Before Russia’s full-scale invasion, the MAP was an important part of the company’s production chain. The plant processed bauxite into alumina, which is used in the subsequent production of aluminum. However, the plant has been idle since 2022.

In 2023, the High Anti-Corruption Court of Ukraine ruled that 100% of the corporate rights in the Mykolaiv Alumina Plant, which was linked to Russian oligarch Oleg Deripaska, should be transferred to the state.

The nationalization process was completed on March 20, 2024. Since then, the sole founder of the enterprise has been the State Property Fund of Ukraine, as the agency announced officially.

Ukraine is now preparing the MAP for privatization. According to the latest published plans, an auction to sell the plant is expected in the first quarter of 2027. However, it has not yet been decided whether the plant’s tailings ponds will be included in the sale; they require ongoing maintenance and environmental monitoring.

We previously reported:

• The MAP has finally become the property of the State Property Fund
• Replacing the MAP: oligarch Deripaska’s Rusal plans to build an alumina refinery in Russia
• Ukraine nationalized factories belonging to Russian oligarch Deripaska — SBU
• War: shutdown of alumina production at the Mykolaiv plant disrupts Rusal’s logistics
• Rusal to build a new alumina refinery