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58% Bauxite Sale – Ibrahim Mahama Speaks

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Businessman, Ibrahim Mahama has shot down claims by the aide of Vice President Mahamadu Bawumia, Gideon Boako that the National Democratic Congress government sold 58% of Ghana’s Bauxite to him and Exton Cubic Group Limited.

A statement from his office said there are three Bauxite concessions in the country of which two have been sold to foreign companies hence reason why Nyinahin concession was given to Exton Cubic Group Limited as the only local company to challenge the foreign companies.

““The allegation by the technical advisor to the Vice President, Mr. Gideon Boako that the state sold 58% of Ghana’s Bauxite to Mr. Ibrahim Mahama and Exton Cubic Group Limited is not true. We have three Bauxite concessions in Ghana, the three concessions are, Awaso concession, Nyinahin concession and Kibi forest reserve/concession. The government has sold the Awaso concession to Ghana Bauxite Company Limited now owned by the Bosai Minerals Group Co. Limited, a Chinese Company and also gave the Kibi forest reserve to the Chinese as part of the $15billion Chinese loan recently secured after the Vice President visit to China. Exton Cubic Group Limited is the only local company that has the capacity to challenge the foreigners in that sector. That’s a fact. That’s why they were given the Nyinahin concession.”

The statement indicated that the allegations were borne out of the fact that government intends taking part of Nyinahin concession to be given to the Chinese for the $15billion loan the government took from them.

“It’s interesting to note that the government wants to give part of the Nyinahin concession to the Chinese again as part of the $15billion loan despite the Chinese controlling Awaso and Kibi forest reserves already. It’s clear Mr. Gideon Boako statement against Exton Cubic Group Limited, a local company was done to whip up sentiments against the company. But that has failed miserably.”

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