Hon. Samuel A. Jinapor, the Minister of Lands and Natural Resources, today celebrated the listing of Atlantic Lithium’s shares on the Ghana Stock Exchange (GSE) as a transformative moment for Ghana’s mineral wealth exploitation. The event marks a significant milestone in the government’s strategy to indigenize the mining sector and enhance value addition through Ghanaian ownership and participation.
Atlantic Lithium, responsible for the Ewoyaa Lithium Project in the Central Region, officially joined the GSE on Monday, May 13, 2024, with shares valued at GHC649,669,053. The indicative price set for the GSE listing is GH₵4.40, reflecting the valuation from the Primary Listing Market. This listing is seen as a crucial step towards fulfilling the government’s commitment to ensure Ghanaian ownership and control over the Ewoyaa Lithium project.
“This is to fulfill one of the very important commitments made by the brokers of the transaction reached between the government of Ghana and Atlantic Lithium and their subsidiary, Bavari DV. There have been a lot of talks about how the mineral resources of Africa and Ghana have not benefitted the owners of the resources. It has been so because we’ve been unable to indigenize the sector and add value to the resources.”
Hon. Samuel A. Jinapor, the Minister of Lands and Natural Resources
Minister Jinapor emphasized the alignment of Atlantic Lithium’s GSE listing with the government’s strategic goals. He highlighted that this move not only satisfies a key requirement in the agreement between the government and Atlantic Lithium but also positions Ghana at the forefront of the mining industry, particularly in large-scale mining.
The Minister stressed the importance of this development in addressing the historical challenge of African and Ghanaian mineral resource ownership and value addition.
Neil Herbert, the Executive Chairman of Atlantic Lithium, underscored the company’s commitment to supporting Ghana’s efforts in combating climate change through its operations. He described the GSE listing as a testament to Ghana’s dedication to sustainable lithium production, contributing to global efforts against climate change.
Martin Ayisi, CEO of the Minerals Commission, expressed excitement about the upcoming developments in Ghana’s mining sector, starting with Atlantic Lithium’s listing. He viewed this as a new chapter for Ghana’s mining industry, aligning with the government’s strategic policies.
Abena Amoah, Managing Director of the GSE, acknowledged the contributions of various stakeholders, including the Minerals Commission, Ministry of Lands and Natural Resources, Chamber of Mines, and the Minerals Income Investment Fund (MIIF), for their roles in facilitating the deal.
The listing of Atlantic Lithium’s shares on the GSE is expected to have several impacts on Ghana’s mineral sector and economy. The listing of Atlantic Lithium’s shares will enhance transparency and accountability in the industry by allowing public scrutiny of the company’s operations.
Moreover, the listing of Atlantic Lithium provides opportunities for Ghanaian investors to participate in the lucrative lithium market, potentially boosting local investment and economic growth. Additionally, it showcases Ghana as an attractive destination for mining investment, fostering further development in the sector.
This landmark event signifies a paradigm shift in Ghana’s approach to mining, emphasizing local ownership, value addition, and sustainability. It sets a precedent for future mining projects, ensuring that Ghanaians are at the center of the country’s mineral wealth exploitation and reaping the benefits of their natural resources.
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