Ghana mining fund in talks to invest in Atlantic Lithium

Australia’s Atlantic Lithium is in talks with Ghana’s state-owned Minerals Income Investment Fund (MIIF), for funding of up to $30 million

Atlantic Lithium (A11.AX), a company developing a lithium mine in Ghana, is in discussions with the state-owned Minerals Income Investment Fund (MIIF) regarding a potential investment of up to $30 million. The soaring demand and prices of lithium, a critical component of electric vehicle batteries, have led to a surge of interest in projects throughout Africa.

According to MIIF, it intends to acquire an equity interest in Atlantic Lithium, and the company has agreed to be listed on the Ghana Stock Exchange. The size of the stake that MIIF is contemplating purchasing has not been disclosed.

For a long time, Ghana, recognised for its gold and cocoa exports, has aimed to expand its range of exports. Atlantic Lithium, formerly called IronRidge Resources, sees potential in extracting the battery metal as a way to achieve this goal.

Due to supply shortages and increased demand from the automotive sector, prices for the lightweight metal have skyrocketed to nearly $80,000 per tonne, representing an approximately tenfold increase since the beginning of 2021.

Share

Featured Articles

McKinsey: Design is the answer to supply chain disruption

Based on McKinsey research, firms that embrace the business value of design are less susceptible to disruption in supply chains and are more eco-friendly

Extending maintenance intervals with ultra-hard wearfacings

Hans Bengtsson and Daniel Hoekfors explain how wear-resistant materials are overcoming challenges from wear and abrasion at iron ore mines in the Nordics

Automating your processes? Invest in the right skills

Annee Bayeux, Chief Learning Strategist at Degreed discusses how smart mining and automation are underpinned by the right skills

Accelerating the digital mine with a bite-size approach

Digital Mining

BHP trials renewable fuel at Yandi

Sustainability

Rio Tinto trials renewable diesel at U.S. operations

Sustainability