Atlantic Lithium to Debut on Ghana Stock Exchange in a Historic First for the Country’s Lithium Industry
Lithium Buzz: Atlantic’s Big Leap onto Ghana Stock Exchange
In a significant move for Ghana’s burgeoning mining sector, Atlantic Lithium Limited has announced its upcoming listing on the Ghana Stock Exchange (GSE), scheduled for May 13, 2024.
This marks a pivotal moment as Atlantic Lithium becomes the first lithium mining company to be traded on the GSE, signalling Ghana’s strategic entry into the global lithium market amid the increasing demand for green energy resources, as NorvanReports can report.
Atlantic Lithium, already listed on AIM, ASX, and OTCQX, is pioneering Ghana’s lithium production with its Ewoyaa Lithium Project located in the country’s Central Region. The project boasts a globally significant hard rock spodumene deposit and is poised to commence production as Ghana’s first lithium mine.
According to a definitive feasibility study completed in June 2023, the Ewoyaa project is expected to produce approximately 365,000 tonnes of spodumene concentrate per annum, positioning it as one of the largest of its kind globally.
The decision to list on the GSE follows the recent strategic investment by Ghana’s mineral sovereign wealth fund (MIIF), which invested US$5 million in January 2024 as part of a larger US$32.9 million funding initiative aimed at supporting the project’s development.
The governmental backing underscores the national importance attributed to the lithium sector, viewed as crucial for supporting the global transition to electric vehicles and renewable energy storage systems.
Neil Herbert, Executive Chairman of Atlantic Lithium, expressed optimism about the listing, noting, “As the first lithium company to commence trading on the Ghana Stock Exchange, our listing represents a new chapter in the country’s esteemed mining history. This initiative will enhance local participation and align our operations more closely with Ghanaian stakeholders, fostering wealth creation and demonstrating our commitment to the long-term development of the Ghanaian economy.”
The listing is expected to offer significant benefits, including increased visibility for Atlantic Lithium within the global investment community and enhanced opportunities for Ghanaians to invest in a key sector poised for rapid growth due to the electrification transition.
This move also aligns with the government’s objectives to promote sustainable mining practices and ensure that the economic benefits of natural resource extraction are widely shared among its population.
Atlantic Lithium’s listing on the GSE is viewed as a strategic step not only for the company but also for Ghana, which aims to establish itself as a leading mining investment jurisdiction and a critical player in the global supply chain for green minerals.
As the company awaits parliamentary ratification of its Mining Lease and progresses with the necessary permitting steps, the industry watches closely. The successful listing of Atlantic Lithium could potentially catalyze further international investments into Ghana’s mining sector, particularly in the exploration and production of minerals critical to the global green energy transition.
