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Rio Tinto Alcan announces that it has sold its 80 per cent share of the Ghana Bauxite Company Limited (GBC) to Bosai Minerals Group Co., Ltd. (Bosai).
“After conducting a thorough evaluation of our options, it was determined that, while GBC is a quality operation, its size is not aligned with our long-term strategy,” said Steve Hodgson, president and chief executive officer, Bauxite and Alumina, Rio Tinto Alcan. “We believe that GBC’s sale to Bosai is the best way to ensure longer-term sustainability for the operation.” Rio Tinto Alcan extends, through 2012, its original three-year commitment to support the development plans of the Bibiani Anhwiaso Bekwai District, in partnership with key local Ghanaian and international stakeholders. This US$100,000 per year commitment addresses areas of vital importance to Ghana, such as health, education, water and sanitation. GBC, which operates in the Bibiani Anhwiaso Bekwai District of Western Ghana, employs 299 people and produced 802,000 tonnes of bauxite in 2008. |
