The move is to enhance marketability, increase revenues and foreign exchange inflows.
Phase one of the project which is expected to be completed within 24 months at the cost of $240 million involves the construction of a 45MW power plant (natural gas) and two million per tonne annual refinery, introducing a new hitech industrialization to the mining sector.

The project will also come with some associated logistical investment into a dedicated mineral railway line and optimisation investment at the Port of Takoradi to further enhance the future export operations of manganese ore.

Overall, Phases 2 and 3 will take the total investment into the refinery to $450 million.
Speaking to members of the Journalists for Business Advocacy on a tour organised by the Ghana Chamber of Mines, Mr Joseph Ampong General Manager of GMC, said the project held a high prospect for the future of the mine.

He said the refinery would create over 1000 direct jobs and boost the revenue of the company.
He said the company planned to increase manganese production to 8 million tonnes per year, out of which it intended to refine about five million locally.

Mr Ampong said the project had been on the drawing board for many years due to power supply challenges, adding the refinery would require about 45,000 megawatt of power.

"I think at some point, they made an attempt to put up the gas plant to cast iron and manganese carbonate deposit so that it becomes very rich before we send it down. But due to power issues, it couldn't materialize so now we are coming up with new interventions to make sure it works," he added.

Mr Ampong said the company was depending on Genser Energy to provide the power for the project using gas from Atuabo.

Mr Ampong said the refinery would impact the economy in many ways, including increased revenue for government, foreign exchange inflows and jobs.

"So definitely, we're going to have a lot of advantages bringing the refinery on board. The grade we are mining now is low, we are currently selling at 26.5 per cent but when you upgrade it, you refine it, you can get it at 40 per cent and above," he explained.

Manganese is a major component in the steel industry, accounting for 75 per cent of global demand with 20 per cent and 5 per cent going into batteries and fertilizer respectively.

Mr Ampong said the current shift towards renewables away from fossil fuel bode well for the company, especially in the manufacturing of electric vehicles, manganese, lithium, and other critical minerals would be of high demand in the future.

"Manganese is part of the critical piece that forms electric vehicle batteries. So if you read of late, you will see we are talking about green minerals, critical minerals, and manganese is part of it.

Mr Ampong said GMC was heavily hit by the Ukraine and Russia conflict because the former was a key export destination aside from China, adding that the company was currently exploring marketing opportunities across the world to sustain the business.