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Bosai Minerals embroiled in Ghana bauxite controversy

Jul 14, 2010 News

Months of investigation has revealed traces of negligence and conflict of interest on the part of officialdom resulting in Ghana losing millions of US dollars over the sale of the Ghana Bauxite Company Limited (GBCL) to Bosai Minerals Group; a Chinese company.
Preliminary findings by The Herald put the country’s loss close to $20 million from the sale of 80 per cent shares of TBAC ; majority shareholders – previously British Aluminum Company – to the Chinese group.
While the British group, based in Ireland, told Ghanaian officials that their 704,204 shares of Ghana Bauxite were being sold to the Chinese for US$10,620 million, the Chinese on the other hand were busily announcing that they were rather paying US$30 million for the minerals.
But in spite of these clear conflicting figures, both the Ministry of Lands and Natural Resources and the Minerals Commission have allowed the Chinese into the country and they are briskly siphoning Ghana’s bauxite to China with ships.  (ghanaweb.com)

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