Ghana signs $700m chemical plant, gold waste clean-up deal
The government has entered into a Memorandum of Understanding (MoU) with Petrochemical Holding GmbH (PCH) for the development of a $700 million chemical manufacturing facility and the implementation of a nationwide initiative to recover gold from mining waste while rehabilitating degraded mining sites.
The agreement, signed with the 24-Hour Economy and Accelerated Export Development Authority (24H+), outlines two interconnected projects: the construction of an integrated plant to manufacture sodium cyanide and chlor-alkali caustic soda, and a gold tailings recovery and environmental restoration programme aimed at some of Ghana’s most polluted mining areas.
As part of the environmental remediation initiative, PCH will provide technical expertise to identify suitable tailings sites, assess them for recoverable gold, extract valuable minerals where commercially viable, and support the restoration of damaged land and water bodies.
The programme is intended to convert mining waste into economic value while improving environmental conditions, particularly in water bodies affected by illegal and informal mining activities.
The projects will be undertaken through GreenRock Petrochemical Ghana Limited, a joint venture between Gulf-based GreenRock and Petrochemical Holding GmbH, a chemical industry company with more than 30 years of experience in delivering large-scale industrial projects.
The proposed chemical manufacturing complex is expected to reduce Ghana’s dependence on imported sodium cyanide and caustic soda—two essential products for the mining industry—by producing them locally using salt as the primary raw material.
Officials also believe the facility could serve markets across West Africa once operational.
Speaking at the signing ceremony, Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Authority, Goosie Tanoh, said the partnership aligns with President John Dramani Mahama’s industrialisation agenda and the vision of building an economy that operates around the clock.
He invited both local and international investors, private sector organisations and development partners to support the government’s 24-Hour Economy Transformation Agenda.
PCH Chief Executive Iakov Goldovskiy said the projects have the potential to attract substantial foreign direct investment while positioning Ghana as a regional centre for mining chemicals, sustainable resource recovery and value-added industrial production.
According to him, the investment could generate long-term economic benefits through job creation, expanded industrial capacity, environmental restoration and export-led growth.
The projects will, however, be subject to feasibility studies, environmental assessments, regulatory approvals and the signing of final investment agreements before implementation can begin.
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