The Chief Executive Officer of the Ghana Integrated Iron and Steel Development Corporation (GIISDEC), William Okofo Darteh, has disclosed a rising interest from local investors in Ghana’s burgeoning iron ore industry.
This development marks a significant step toward the country’s long-term goal of reducing its dependency on imported steel.
Speaking to Joy Business during a working visit to iron ore exploration sites in Kadjebi, located in the Oti Region, Mr. Darteh revealed that the corporation is accelerating efforts to initiate full-scale exploration and development of the mineral-rich area.
“Investors have been engaging with us frequently. However, until the ongoing preliminary work is completed at the site, it’s difficult to move into detailed business discussions. We’ve also identified some challenges the teams on the ground are facing, and we’re committed to addressing these so they can complete their tasks swiftly. The potential here looks fantastic”, he stated
Mr. Darteh announced that a US$600 million iron ore project is expected to be launched by the end of 2025, signaling a major investment in the sector.
According to him, some companies have already pledged investments of up to US$300 million, with plans to scale operations to the full project value in the coming months.
“We have some investors who are far advanced in their plans. They are expected to begin work on-site within the year,” he added.
“This development is not just about mining it’s about building an integrated iron and steel industry to serve local and regional markets”, he concluded.
Background and Implications
Ghana possesses significant untapped iron ore reserves, particularly in the Oti, Northern, and Western North regions. The development of these resources is central to the government’s broader industrialisation agenda, which includes establishing a fully integrated iron and steel industry under the Ghana Integrated Iron and Steel Development Act (Act 988).
The push to develop domestic iron ore is also part of Ghana’s efforts to promote local content participation, job creation, and value addition within the mining sector.
The announcement of iron ore discovery comes at a time when global demand for steel remains strong, driven by infrastructure growth across Africa and beyond. If successful, Ghana’s iron ore project could position the country as a key supplier in West Africa.
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