Top DevelopmentsGhanaian Political Opposition Critical of Excessive Chinese Lending in Exchange for Bauxite
On August 25, Sinohydro Group began a due diligence process with regard to bauxite mining prospects in Ghana’s Atewa forest reserve for which it seeks mining rights in exchange for broader promises of infrastructure investment. At the end of June, Ghana’s parliament approved an MoU for Sinohydro to provide Ghana with $2 billion in infrastructure, including roads, bridges, housing, and electrification. In what appears to be a traditional “resources for infrastructure” arrangement, Sinohydro would is receiving bauxite mining rights in the Atewa and Nyinahin forest reserves in exchange. Ghanaian President Nana Akufo-Addo is expected to finalize the agreement in the coming weeks. The political opposition has criticized the deal for its debt implications. China has sought to leverage offers of financing for some time to gain access to the countries valuable mining assets.Myanmar Poli…
On August 25, Sinohydro Group began a due diligence process with regard to bauxite mining prospects in Ghana’s Atewa forest reserve for which it seeks mining rights in exchange for broader promises of infrastructure investment. At the end of June, Ghana’s parliament approved an MoU for Sinohydro to provide Ghana with $2 billion in infrastructure, including roads, bridges, housing, and electrification. In what appears to be a traditional “resources for infrastructure” arrangement, Sinohydro would is receiving bauxite mining rights in the Atewa and Nyinahin forest reserves in exchange. Ghanaian President Nana Akufo-Addo is expected to finalize the agreement in the coming weeks. The political opposition has criticized the deal for its debt implications. China has sought to leverage offers of financing for some time to gain access to the countries valuable mining assets.Myanmar Poli…