https://www.miningweekly.com
Mining|PROJECT|Resources
Mining|PROJECT|Resources
mining|project|resources

Ghana greenlights first lithium mine with eye on electric vehicle boom

20th October 2023

By: Reuters

  

Font size: - +

Ghana's government has approved its first lithium mine run by a subsidiary of Australia-based Atlantic Lithium Limited, the West African country said on Thursday, part of its drive to benefit from a global move towards electric vehicles.

The Ministry of Lands and Natural Resources granted Barari DV Ghana Limited a 15-year lease on the mine at Ewoyaa, on Ghana's southern coast, where the company began exploring for lithium six years ago.

The prospect is highly valued by Ghana as it seeks to play a role in producing a key ingredient in electric vehicle batteries, demand for which is soaring as countries look to phase out fossil-fuel cars.

As part of the deal, Ghana has increased the royalty rate to 10% from the standard 5% and the State's interest in the project to 13% from 10%, the ministry said in a statement.

On top of the State's stake, Ghana's Minerals Income Investment Fund will acquire another 6% in the mining operation, and 3.06% in Atlantic Lithium.

The company will also work on developing a lithium processing plant to maximise the economic benefit of a mineral it has often shipped to China for processing, the ministry added.

Atlantic Lithium declined to comment.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.114 0.155s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: