Established by an Act of parliament in March, 2019 to develop and promote an Integrated Iron and Steel Industry (IISI). The Board Inaugurated in November 2019. The Company will hold Government of Ghana’s full interests across the value chain in the Integrated Iron and Steel Industry – minimum 30% stake in any new mine, refinery or smelter. Also, encourage local content and technology transfer to boost local industrialization and ensure equity among local and foreign investors. It is also the major pillar to accelerate government industrialization and economic growth agenda.
Mandate: Develop and promote iron and steel industry as enshrined in Act, 2019 (Act 988).
Mission: To lead the development of a sustainable integrated iron and Steel industry by mobilizing, informing and educating all local and foreign stakeholders while ensuring the right mix between Ghanaian and foreign participation and building the Ghanaian human capacity.
Vision: To be a leading Integrated Iron and Steel Industry with global reputation whose operations will positively impact the lives of Ghanaians.
The overarching goal of GIISDEC is to leverage on Ghana’s Iron Ore reserves and allied steel assets to drive Ghana’s industrialization. In pursuit of this goal the corporation has adapted to accelerate the promotion and development of an iron and steel industry strategy in 2020 which is anchored on:
- Building Capacity and expanding activities – Investing systematically and prudently in building operating capability to manage a wider portfolio of producing iron ore.
- Undertake natural resource estimates in two key locations – transforming the natural resources into commercial values to attract strategic Investors
- Efficient capitalization of upstream and the midstream participation – Securing capital at the lowest possible cost to maintain an optimum level of participation in iron and steel value chain operations.
- Catalyzing on local content participation – expediting the creation of an appropriate environment for local content participation within the entire value chain of the Iron and steel industry.