Miners
Ghana’s mining sector has seen some major developments in the years under review.
Paramount among them is the Commissioning of Cardinal Namdini Mining Ltd, granting of Mining Permit and listing of Atlantic Lithium shares on the Ghana Stock Exchange and the disturbing news of pollution of water bodies and destruction of forest reserves due to illegal mining.
Below is a compilation of some of the major news items for 2024.
Australia’s Cassius Mining takes Ghana to court for US$277m
Cassius Mining has taken the Ghanaian government to court for “breach of contracts” that resulted in the company losing its gold project.
In its claim, Cassius is seeking US$277 million (A$443 million) in damages from the African nation.
In a press release dated Dec. 23, the Australian miner said the claim, witness statements and independent expert reports have all been filed at the International Tribunal in London. The claim amount, it added, represents the “lost profits and damages for the loss of opportunity to develop, establish and benefit from a producing gold mine in its licensed area.”
The company’s Gbane project in northeastern Ghana comprises a large-scale prospecting licence covering a total area of 13.8 km2.
It is situated within the Talensi district of the Upper East region, next to the currently producing Shaanxi gold mine.
Cassius also had a long-running dispute with Shaanxi, alleging that the Chinese mining company operating the mine had dug hundreds of metres underground into its concession and plundered tens of millions of dollars in gold from its veins, according to investigations by the Sydney Morning Herald and a local journalist.
Shaanxi had also been accused of taking extreme measures to keep small-scale miners off their mine site in northern Ghana, including the release of toxic gas that once killed 16 people. Since 2013, it is alleged that more than 60 miners have been killed in Shaanxi’s mines.
Despite these allegations, which Shaanxi denied, Ghana elected to turn a blind eye. Instead, it shut down Cassius’ nearby project in 2019 for what it calls “constitutional non-compliance” because it was not properly ratified under the new Ghanaian law.
“Ghana’s actions, including its failure to renew Cassius’s prospecting licence, has resulted in Cassius being deprived of the entire value and profits of its gold project in Ghana,” Cassius stated in its press release.
To support its claim, the company relied on leading quantum experts AMC Consultants in Perth, Western Australia, and Secretariat in Washington DC.
The claim is being prosecuted through the legal framework of the Alternative Dispute Resolution Act of 2010 (Ghana), which is largely based on the provisions of the United Nations Commission on International Trade Rules (UNCITRAL).
Akufo-Addo commissions Cardinal Namdini Mining Ltd
Ghana has taken a significant step towards solidifying its position as Africa’s leading gold producer with the commissioning of Cardinal Namdini Mining Ltd the third largest Mine in the country and the pouring of its first gold to mark the official opening by President, Nana Addo Dankwa Akufo-Addo on Friday, November 8, 2024 in the Talensi district of the Upper East region.
The operationalization of Cardinal Namdini, which is the largest single-stream Mine in West African sub-region, is expected to consolidate Ghana’s position as one of the world’s leading gold producers, with projections that the company will produce three hundred thousand ounces (300,000 oz) annually in the first three years.
Delivering a speech at the commissioning, President Akufo-Addo stated that the establishment of the Mine marks another great step towards positioning Ghana as a premier hub for mining activities in Africa.
He disclosed that his government, since its inception in 2017, has embarked on a mission to expand Ghana’s natural resource base and that the Ghana Geological Survey Authority has received enormous support and funding to actualize this vision.
He stated that the setting up of Cardinal Namdini Mine is indicative of the wealth of mineral resources embedded in the northern part of the country and that these resources will be harnessed for the growth of the area and the country.
He believes that the creation of the Cardinal Namdini Mine is a significant step by the government towards fulfilling its promise to Ghanaians to create jobs and empower citizens economically.
“Today marks yet another significant milestone towards the realization of the vision to make Ghana the mining hub of Africa, where all mining and mining-related activities, from exploration to downstream production, and from research to innovation, would be centered”, he said.
“This Mine we commission today is evidence of the power of exploration as the lifeblood of the mining industry. For years, this area, and several other areas within this northern belt of our country, have only been known for small-scale mining. Large-scale mining firms have concentrated on the south, largely influenced by the literature that links gold only to the south of our nation”, he added.
“It is investment in exploration that led to the construction of this mine, which we are told today will become the third largest mine in the country and one of the largest single-stream gold mines in West Africa. And I am thrilled to learn that apart from this remarkable mine, another large-scale mine is under construction in the Upper West Region.”
Enumerating the achievements of his government in the mining sector, President Akufo-Addo noted that his government has, since its inception, worked diligently to create the enabling environment and legal framework for mining companies to thrive in the country.
He mentioned the consistent and improved financial support of the Ghana Geological Survey Authority and the establishment of offices of the Minerals Commission in Tamale, Wa, Bolgatanga, and Bole as instructive and important measures taken by the government to make Northern Ghana the face of mining in the country.
“Since 2017, we have increased budgetary allocation to the Ghana Geological Survey Authority to undertake more exploration to identify mineable lands, both for small and large-scale mining. Additionally, we have refurbished the office of the Authority, which was commissioned by the Minister for Lands and Natural Resources last week, to provide a conducive environment for staff of the Authority to carry out their operations.
“To ensure the provision of adequate resources for geological investigations, we are amending the Minerals Development Fund Act, 2016 (Act 912) to increase the allocation to the Authority from mineral royalties from eight percent (8%) to thirteen percent (13%). And from next year, God willing, the Government of Dr. Mahamudu Bawumia will allocate Ten Million United States Dollars (US$10,000,000.00) annually to the Authority to support their geological investigations.
The construction of New Regional and District Offices of the Minerals Commission in Tamale, Wa, Bolgatanga, and Bole couldn’t have been more timely. With this mine, and the construction of the new mine in the Upper West Region, northern Ghana is ready to become the new face of mining in Ghana, and regulatory agencies must stand ready to live up to the task and the challenge ahead.
“As we commission this mine and pour its first gold, we are fulfilling our commitment to creating a brighter future for the people of Ghana, including Talensi and its environs. It will create jobs, foster local development, and contribute significantly to both the local and national economy. It will bring about a transformative change in this area, providing opportunities for growth and development that will benefit generations to come,” he said.
President Akufo-Addo charged the company to adhere strictly to the country’s mining regulations and also mine within the scope of Ghana’s policies and commitments towards the environment.
While commending the company for its promise to build an airport in the area, President Akufo-Addo emphasized the importance of local participation and execution of developmental projects in the area.
“It will also lead to developments in local infrastructure, including roads, utilities, and community facilities. I am informed of the commitment of the Company to construct an airport in Bolgatanga, to aid their mining operations and serve the needs of the people of the Upper East Region,” he said.
“Government is ready to provide all the necessary support to the Company in this project, which will undoubtedly enhance the quality of life for local residents and support broader regional development.”
“As you commence production, Government expects that you will employ the best of mining practices and adhere to all environmental and other regulatory standards for a safe and sustainable mining operation. I am aware that your parent Company, the Shandong Gold Group, has been a global leader in key technologies for gold mining and processing, and I have no doubt that you will replicate these same standards here in Ghana,” he said.
The Minister for Lands and Natural Resources, Samuel A. Jinapor, disclosed some of the measures implemented by the government to facilitate the smooth operations of large-scale mining companies in the northern part of the country and attract investors to that part of the country.
“I am happy to also report that aside from this mine, there is the construction of another large-scale greenfield mine in the Upper West Region by Azumah Resources. And just below the northern belt of the country, Newmont is constructing a new mine in Ahafo North.
“To meet the regulatory needs of these emerging mines, a five-story Regional Office complex for the Minerals Commission, which will be fitted with a laboratory, is currently under construction in Tamale. We have also upgraded the Bolgatanga, Wa, and Bole Offices of the Commission to Regional status, and new Regional Office complexes are being constructed in these areas. These offices will service the emerging large-scale mines in this part of the country, in addition to the regulation of small-scale mining.
Jinapor stated that his Ministry is not only focused on ensuring an upscale in gold production but is also effectively prosecuting the President’s vision of value addition to the mineral resources through the establishment of refineries across mining areas in the country.
“While working to increase production, we continue to pursue the vision of President Akufo-Addo to add value to our mineral resources and translate these volumes of minerals into wealth for the benefit of the Ghanaian people. We have, therefore, constructed and commissioned a four hundred kilogram (400kg) capacity gold refinery to refine the gold we produce, and in the next couple of weeks, the President will cut sod for the commencement of work on a Four Hundred and Fifty Million United States Dollars (US$450,000,000.00) manganese refinery at Nsuta in the Western Region, to be funded by the parent company of Ghana Manganese Company,” he said.
Chinese Ambassador to Ghana, HE Tong Defa, detailed his happiness with the establishment of the mine project and commended President Akufo-Addo for his commitment to the mining industry and determination to deepen the relations between Ghana and China.
He noted that China has been a major trading partner of Ghana and has a huge presence in the Ghanaian mining sector with the aim of employing opportunities and helping develop the sector.
He stated that Cardinal Namdini gold mine which saw over US$1billion dollar investment is yet another testimony to China’s commitment to be Ghana’s foremost strategic partner.
Ghana’s Parliament not likely to ratify lithium and bauxite agreement this year
Ghana’s Parliament is not likely to consider the ratification of the lithium and bauxite mining agreement before the House ends sitting in the coming days.
The two agreements were not part of some eight priority bills read out by the Speaker of Parliament Alban Bagbin on Monday (16 December) for consideration before the House breaks for the Christmas holidays.
The eight bills identified as priority business include:
– Expenditure in Advance of Appropriation Bill 2024
– Environmental Protection Bill 2024
– Boundary Commission Bill 2024, deemed urgent due to regional insecurity
– Social Protection Bill 2023
– Parliament Transition Bill 2023
– Parliamentary Service Bill 2024
– Public Accounts Committee reports, which will lapse if not addressed- International Business and Economic Transaction Bill, pivotal in positioning Ghana as a key player in the global economic arena
Alban Bagbin urged the Business Committee and leadership to sequence the programming of these essential legislative items, emphasizing the need to preserve the gains of Ghana’s democracy.
Concerns
In July, Two paramount Chiefs in the Central Region where Lithium deposit is found in larger quantities expressed worry over what they described as the delay in the approval of the lithium and bauxite mining agreement in parliament.
According to them, the found mineral in the area is a major breakthrough for the development of their people giving the lack of employment and development in the areas.
Atlantic Lithium, the Africa-focused lithium exploration and development company targeting the delivery of Ghana’s first lithium mine had earlier expressed concern over the delay in the ratification of the lithium agreement.
Job-cuts
The firm in October confirmed laying off some workers due to delay over the ratification of its mining lease by Ghana’ Parliament.
It is yet unclear how many workers of the company have been laid off so far. The company which currently employs about 70 workers is hoping to increase the number to 900 after approval of its lease.
”We have had the mining lease now for nearly twelve months, but we are still awaiting ratification from Parliament. It’s been disappointing that the ratification has taken this long. Unfortunately, we had to cut jobs because of the delay,” director of Finance for Atlantic Lithium, Amanda Harsas told the media on the sidelines of a mining forum in Accra.
”This delay is going to affect our timelines, the benefits for Ghana and for the Central Region, Parliament is resuming on 15 October, so we are hoping that the ratification is done when Parliament resumes because if it goes into next year, there will be another delay,” she added.
It is not yet clear wether the latest development in Parliament will lead to further job cuts at Atlantic Lithium.
Chinese group buys Newmont Akyem Mine for US$ 1 billion
Last month, the Denver-based company agreed to sell two Australian assets for up to $475-million. Other assets that remain on the chopping block include the Éléonore, Musselwhite and Porcupine mines and Coffee project, in Canada, as well as the CC&V mine, in the US.
“We believe the proposed Akyem transaction results in the greatest overall value for Newmont shareholders and is the best strategic fit for the mine.
We are confident that Akyem will continue to thrive under new ownership with long-term benefits for local stakeholders and surrounding communities,” Newmont CEO Tom Palmer said in a statement.
Despite the sale, Newmont remains committed to its operations in Ghana, with plans to invest between $950-million and $1.0-billion in the development of the Ahafo North gold mining project in the Ahafo region.
Palmer pointed out that the successful completion of the Akeym sale strengthened Newmont’s confidence in Ghana as a favourable mining jurisdiction. “Newmont will continue to support the growth and development of the region including the development of our Ahafo North project.”
Newmont MD for Africa Rahman Amoadu highlighted that the divestment process adhered to the principles set out by Ghana President Nana Akufo-Addo, ensuring that both Ghanaian and international parties had equal opportunities to participate.
“Additionally, we have included the Minerals Income Investment Fund in the process in preparation of their potential investment in Akyem to further Ghanaian interest in the mine,” said Amoadu.
The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and customary conditions. As such, Newmont has not adjusted its 2024 guidance, with the deal not expected to significantly impact this year’s outlook.
Under the terms of the agreement, Newmont will receive a cash consideration of $900-million upon closing, with a further $100-million expected to be received upon the satisfaction of certain conditions.
The proceeds from the sale will be used to support Newmont’s capital allocation priorities, including strengthening its balance sheet and returning value to shareholders.
MIIF’s gold trade desk attract US$1.02 billion in 12-months
The Minerals Income Investment Fund (MIIF) has attracted US$1.02 billion in revenue within 12 months, through its gold trade desk.
The initiative is designed to formalise small-scale mining, ensure the traceability of gold and provide a market for locally produced gold.
This effort aligns with MIIF’s broader transformation agenda, which seeks to maximize local participation and economic benefits from the country’s mineral wealth.
Edward Nana Yaw Koranteng, Chief Executive Officer of MIIF, explained during a media engagement that the gold trade desk is pivotal to integrating Ghana’s small-scale mining sector into the formal economy.
“The gold dory from the small-scale mining companies is sold to LBMA-certified refineries, ensuring global recognition as traceable gold. This not only adds a premium to Ghana’s gold but also helps curb the exploitation that has plagued the sector,” he stated.
Small-scale mining contributes up to 40 percent of Ghana’s total gold output and employs more people than the cocoa sector. Despite its importance, the sector has long been overshadowed by challenges such as illegal mining, lack of capital, and poor governance structures. MIIF’s gold trade desk works in tandem with its Small-Scale Mining Incubation Program (SSMIP) to address these issues.
The SSMIP supports licensed small-scale miners with corporate governance training, environmentally sustainable practices, and access to machinery in exchange for equity stakes.
Mr. Koranteng stressed, “The lack of capital and formal structures leaves miners vulnerable to exploitation, where foreign entities purchase gold at discounted rates without regard for environmental or ethical considerations.”
By providing miners a reliable market through the gold trade desk, MIIF aims to reduce capital flight, formalize the sector, and enhance its contribution to the national economy. According to the CEO, Ghana loses approximately US$2 billion annually from unregulated small-scale mining activities.
“Proper formalization will not only plug these revenue leaks but also quadruple the sector’s economic impact,” he added.
In addition to stabilizing the small-scale mining sector, the gold trade desk plays a critical role in supporting Ghana’s broader economy. Over the past year, the initiative has supplied US$600 million to Bulk Distribution Companies (BDCs) to facilitate the importation of petroleum products.
Mr. Koranteng noted that this support has helped stabilize the cedi and mitigate extreme foreign exchange volatility.
“The trade desk’s activities provide ample evidence of how the strategic management of our mineral resources can impact the economy on a 360-degree scale,” Mr. Koranteng stated.
He highlighted that although the desk recorded some forex-related losses in September, it has consistently achieved returns of approximately 8% on the dollar and 24% on the cedi.
From trade desk to ETF
The gold trade desk is part of MIIF’s comprehensive strategy to ensure that Ghanaians benefit directly from the country’s vast mineral wealth. This includes plans to launch a gold-backed Exchange Traded Fund (ETF), allowing ordinary citizens to invest in gold.
“Through the ETF, Ghanaians will be able to own a piece of gold and enjoy returns indexed to the dollar,” the CEO explained.
Though the ETF’s launch has been delayed due to regulatory challenges, MIIF is optimistic about its potential to complement the gold trade desk and further democratise access to Ghana’s gold wealth.
Bubune Kofi Sorpkor, MIIF’s Chief Investment Officer said, “Our efforts extend to the micro level, ensuring that even small-scale miners benefit from the formal economy,” Sorpkor said.
He added that MIIF’s collaboration with the Ghana Stock Exchange (GSE) aims to list junior mining companies on the exchange, providing an opportunity for Ghanaians to invest in the sector.
Koranteng also highlighted the importance of traceability in enhancing Ghana’s gold value.
“Gold that is traceable and mined under ESG principles commands a higher premium. This aligns with global best practices and ensures that our gold remains competitive in international markets,” he said.
MIIF’s traceability mechanisms are designed to prevent environmental degradation and unethical practices, addressing criticisms that have long marred the small-scale mining sector.
MIIF is planning a fully integrated ecosystem where the gold trade desk feeds into the SSMIP, which in turn supports the ETF. This interconnected approach aims to maximize the sector’s contribution to Ghana’s economy while empowering local stakeholders.
“Imagine a future where small-scale miners become well-run junior mining companies, listed on the Ghana Stock Exchange, and directly contributing to the formal economy. The ripple effects would be transformative,” Mr. Koranteng said.
Ghanaian mineworkers decry decline in decent work
In the last ten years, there has been a significant decline in decent work not just in the mining sector, but the Ghanaian economy.
This has been caused largely by a marked shift in the nature of employment away from standard or permanent employment, to non-standard forms of employment, including temporary work, casualisation and fixed term contract work.
These concerns were expressed by the General Secretary of the Ghana Mineworkers Union (GMWU), Abdul-Moomin Gbana, on the occasion of the second-half National Executive Council meeting for the year 2024 in fulfilment of Article 8.3 of the Constitution of the Ghana Mineworkers’ Union held late last month.
It is against this backdrop that the Ghana Mineworkers’ Union staged a spirited campaign over the past five years, calling government’s attention to the urgent need to review the current Labour Act 2003 (Act 651) to deal comprehensively with the implementational gaps and challenges to make it responsive to the changing needs of the actors in the industrial relations space.
“We are, therefore, calling on the President of the Republic to cause the passage of the New Labour Bill into law before he leaves office on 7th January, 2025”.
Mr. Gbana went on to add that the African Union estimates that 25 percent of the GDP of African states, or some US$148billion, is lost to corruption every year on the continent.
“Illicit flows are a significant source of domestic resource leakage, which depletes foreign currency, lowers tax revenues, inhibits foreign investment, lowers government capital and social spending, and ultimately worsens poverty in the world’s poorest developing nations,” he noted.
Therefore, a much firmer hold on corruption would guarantee a much fairer and just society for all, including trade unions and their members.
Konongo residents alarmed by ‘galamsey’ activities along highway
Residents of Konongo are getting alarmed over the growing activities of illegal miners in the area.
They are questioning government’s commitment to ending the menace; saying that despite the resources pumped into the fight against galamsey, the illegal activities keep expanding.
Few meters away from the main Konongo-Accra highway, is an ongoing mining operation.
The activity, according to the Minerals Commission and Environmental Protection Agency (EPA), is illegal because no one has been issued a mining license for that site.
“We received a letter from the Asante Akim Central Municipal Assembly that they wanted to undertake a dredging exercise to prevent flooding. So, whatever is taking place there aside dredging activity is illegal since no company or individual has been given the license to mine there. We will visit there and inform the appropriate quarters for action”, Konongo area head of EPA, Dawood Abass hinted.
The illegal activity easily catches the attention of motorists and passers-by due to the proximity of the site to the main road.
This has left many residents doubting government’s resolve to ending illegal mining, locally referred to as galamsey.
“It appears like we don’t have leaders in this country. No one can convince me that this illegal activity is done at the blind side of local authorities. Our leaders are just not ready to tackle this galamsey menace, so they pretend like they’re fighting it. Look at how the miners are destroying our water bodies with impunity, and no one is calling them to order. Some of us will soon organise and lead a massive demonstration against the duty-bearers” a pastor and resident of Konongo, Reverend Raphael Oppong warned in an angry tone.
For Bertha Nsarko, a mother of two, the war against galamsey is just a charade.
“You will be hearing from the news that government has waged war against illegal mining, but I tell you that there is no war because the illegality keeps advancing”, she said.
Residents have also warned, they may be forced to take the law into their hands and face off with the illegal miners if authorities do not intervene.
2024 GMIA: Anglogold Ashanti adjudged mining company of the year
Anglogold Ashanti Iduapreim Mine on Friday (22 November) emerged as the mining company of the year at the 10th Ghana Mining Industry Awards (GMIA) organised by the Ghana Chamber of Mines in Accra.
The prestigious mining company of the year is awarded to a firm that has excelled in sustainable environmental management, occupational, health and safety, corporate social investment mining innovation and fiscal contribution to the state.
This year’s event saw Samuel Boakye Pobee of Anglogold Ashanti walking away with the mining personality of the year in the President’s Award category.
The best female miner of the year (technical ) went to Evelyn Ofori-Atta of Newmont Ahafo South Mine.
Speaking at the event, the Minister of Lands and Natural Resources, Samuel Abu Jinapor urged the award winners to ensure the award spur them on to better standards in the mining industry.
“Tonight, as we celebrate a decade of this Awards Ceremony to recognise both corporate entities and individuals who have contributed to make our world, and indeed Ghana, a better place through mining, we equally, celebrate the success story of the mining industry in Ghana, which cannot be told without mentioning the Ghana Chamber of Mines, Government’s natural partner in the exploitation, utilisation and management of our mineral resources.”
“Our heartfelt congratulations go to all the award winners. It is my hope that this recognition you receive today will inspire even better standards and results from our industry,” he said.
Ghana Club 100 Awards: Newmont adjudged best company in Ghana again
Newmont Africa (Ahafo South Mine) has been adjudged the best company in Ghana at the 21st edition of the Ghana Club 100 Awards organized by the Ghana Investment Promotion Center (GIPC) on Friday (25 October) in Accra.
The mining firm topped a ranking of the best companies in Ghana, beating competition from Goldfields Ghana Ltd and MTN Ghana, that came second and third respectively.
Crowning the night, once again, as the Number One company in the 21st edition of the #2024GC100Awards:
Newmont Ghana Gold Ltd (Ahafo South Mine)! 🎉🎉🎉🎉@Newmont_Africa pic.twitter.com/gQKsyPGowD
— Ghana Investment Promotion Centre (@gipcghana) October 26, 2024
The Ghana Club 100 awards, which began in 1998, aims to promote effective corporate governance among businesses in Ghana’s private sector and thereby serve as a benchmark for corporate excellence.
The event also enables businesses to seek out new opportunities to broaden their supply networks and expand their markets.
The GIPC awards allow businesses to highlight their accomplishments, incentivize them to do more, and motivate others to strive harder to make the list.
This year’s Ghana Club 100 awards was on the theme: “Fostering Domestic Champions: Building Local Capacity.”
Below are the top 10 firms in this year’s edition:
1 Newmont Africa (Ahafo South Mine)
2. GoldFileds Ghana Ltd
3. MTN Ghana
4. Newmont Gold Ridge Ltd (Akyem Mine)
5. GCB Bank PLC
6 Sanda SoftCare FM Manufacturing Ltd
7.Ecobank PLC
8. AngloGold Ashanti Iduapriem Mine
9. Unicom Specialties Commodity Ltd (USCL)
10. Sunon Asogli Power Company Ltd
Ghana: Atlantic Lithium granted mine operating permit
The Minerals Commission has granted Atlantic Lithium a mine operating permit in respect of the company’s flagship Ewoyaa Lithium Project in the Central Region.
The mine operating permit serves as the final regulatory approval required by the company ahead of commencing construction of the Project, comprising the Ewoyaa Lithium mine and processing plant, and represents an important milestone towards reaching a Final Investment Decision.
Commenting on the approval, Neil Herbert, executive chairman of Atlantic Lithium, said: “Representing the final regulatory approval required by the Company before we can commence construction, the issuance of the Mine Operating Permit marks a critical milestone in the permitting process for the Ewoyaa Lithium Project.’’
“With our sights set on achieving first production of lithium in Ghana, we now eagerly await parliamentary ratification of the Ewoyaa Mining Lease. We hope that ratification can occur in the coming sitting, expected to resume on the 15th of this month, which would set us on the path towards construction and operation of this globally significant lithium project,’’ he added.
The Africa focused lithium exploration and development company targeting the delivery of Ghana’s first lithium mine is currently awaiting the ratification of the Ewoyaa Mining lease by Ghana’s Parliament.
Atlantic Lithium officially lists on Ghana Stock Exchange
Atlantic Lithium Limited, the African-focused lithium exploration and development company has officially listed on the Ghana Stock Exchange.
It comes after approval from the Ghana Stock Exchange (GSE) listing committee and the Securities and Exchange Commission to list its shares on the main market of the stock exchange.
Atlantic Lithium listed 649,669,053 shares after the official listing.
The GSE listing will help Ghanaian investors more easily purchase shares from the Australian Securities Exchange or the London Stock Exchange’s AIM, where the Company is already trading, enabling Ghanaians to share ownership in the advancement of the Ewoyaa Lithium Project and the generational benefits it is expected to deliver.
The listing comes at a time when the Ewoyaa Lithium Project is moving significantly closer to the mine construction phase, with the permitting phases currently underway and full production of lithium targeted for 2026.
Ewoyaa is expected to produce 365,000 tonnes of lithium per year, making it one of the top three largest spodumene mines in Africa and among the largest in the world, putting Ghana on the map for as a major source of lithium, intended to supply the global EV chain.
Speaking at the official launch on Monday(13 May), Ghana’s Minister of Lands and Natural Resources Samuel Abu Jinapor described the move as historic and strategic in strengthening local participation in Ghana’s mining industry.
