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Ghana is aiming for a 15% reduction in emissions by 2030 and has set an e-mobility agenda in an attempt to achieve this.
This includes a recent bid for a stake in a mining company for newly discovered lithium deposits in the country.
The Minerals Income Investment Fund (MIIF) of Ghana recently announced that it has started negotiations on plans to invest up to $30 million in Atlantic Lithium Ltd, an
Australian exploration and mining firm listed on the Australian Stock Exchange (ASX).
Atlantic Lithium has discovered lithium in commercial quantities in Ghana and is on track to become West Africas first producing mine, said MIIF.
"The Ewoyaa discovery in the central region has significant amount of lithium spodumene located on the Cape Coast lithium belt.
"MIIF plans to take up an equity stake in the fully funded African focused company which has a 50% offtake agreement from Piedmont Lithium, a US based developer of lithium resources for the Ghana produced lithium." Piedmont Lithium also has a 50%
offtake agreement with Tesla.
Ghana lithium mine represents new dimension to countrys e-mobility sector
MIIF Chief Executive Officer Edward Nana >faw Koranteng said electric vehicles represent a $7 trillion market opportunity between 2023 and 2030 and $46 trillion between 2023 and 2050.
"This represents opportunities for Ghana which can be leveraged by the current automobile development plan that has seen six car assembly plants already established in Ghana.
"The by-products of lithium such as feldspar also provide a new stratum of opportunity. Feldspar is the main mineral resource needed to produce ceramics and MIIF is
positioned to support the development of the use of the feldspar."
MIIFs strategy is to not only be active in the lithium value chain but to help develop the capital markets, he said.
"In this vein an initial condition of Atlantic Lithium listing on the Ghana Stock Exchange has been accepted by the company.
"This will give all Ghanaians the chance to acquire shares in the resource. We are excited that Ghana can play in the green energy boom which is crucial for the
decarbonisation efforts of the country." |
