https://www.miningweekly.com
Africa|Energy|Manufacturing|Mining|PROJECT|Storage|supply-chain|Manufacturing |Products
Africa|Energy|Manufacturing|Mining|PROJECT|Storage|supply-chain|Manufacturing |Products
africa|energy|manufacturing|mining|project|storage|supply chain|manufacturing-industry-term|products

Ghana sovereign wealth fund invests $2m in graphite project

Drilling at the Kambale graphite project in Ghana

Drilling at the Kambale graphite project in Ghana

5th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Australian junior Castle Minerals will accelerate its graphite production plans in Ghana – a country that has ambitions to establish West Africa’s first critical minerals hub.

Castle on Tuesday announced an indicative nonbinding term sheet with Ghana’s Minerals Council Income Investment Fund (MIIF) for a combined investment of $2-million.

The deal will fund the Kambale graphite project through to a prefeasibility study to evaluate the production of specialist natural graphite concentrates and value-added products used in the manufacture of lithium-ion battery anodes for electric vehicles (EVs) and energy storage.

“Kambale’s fine flake graphite is the form required for lithium-ion battery anode manufacture and extensive testwork has demonstrated that it can be processed to achieve the stringent specifications required for use in anode manufacture. The high-grade 22.4-million-tonne mineral resource will comfortably support a long-term production facility,” says Castle executive chairperson Stephen Stone.

The company has also undertaken to list on the fast-growing Ghana Stock Exchange, which should open up access to additional in-country investment and capital.

The MIIF has already formed an alliance with Atlantic Lithium and its Ewoyaa lithium project, and the Castle investment aligns with the country’s aspiration to build Sub-Sahara’s first lithium-ion battery manufacturing hub.

MIIF CEO Edward Nana Yaw Koranteng commented that Ghana was moving closer to positioning itself in the global EV supply chain.

“Ghana’s status as one of the best mining investment destinations in Africa is considerably reinforced,” said Koranteng.

Edited by Creamer Media Reporter

Comments

Latest News

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
Updated 7 hours ago

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.155 0.185s - 127pq - 2rq
Subscribe Now