NRGI Africa Director urges concrete action on Ghana’s Minerals Law amidst historical implementation challenges
Africa Director of the Natural Resource Governance Institute (NRGI), Nafi Chinery, has expressed hope that the latest pronouncements by high-level public officials concerning the creation of Ghana’s Minerals Law will translate into concrete actions, unlike in the past where implementation has been a significant challenge.
She noted that despite numerous engagements and inputs from civil society and the media, the government’s response has been slow due to various reasons.
“As civil society, our role is to intensify our oversight to ensure effective implementation and compliance. We hope that all the agreed points and inputs from CSOs in this crucial discussion will be incorporated into the draft minerals policy to enhance governance in our mining policy.
“As CSOs, and beyond this convening, we will submit a formal memo to the Minerals Commission, outlining all key points, which will serve as a record of our input into the policy and enable us to monitor progress and action by the Government on the policy,” she remarked.
The creation of the Minerals Law has become imperative given the discovery and expected exploitation of green minerals such as Lithium in the country, aligning with the Government’s energy transition goals.
Touching on the subject of lithium mining and the upcoming listing of Atlantic Lithium on the Ghana Stock Exchange, Ms Chinery expressed her surprise at the listing of the lithium mining company on the country’s bourse prior to the finalization of the Minerals Law and Parliamentary approval.
“I was a little bit surprised by that, and I think we need to have a comprehensive policy and strategy around some of these things, I mean where do all these processes sit in the framework of our legal regime and mining?
“Who is making those decisions, we need to have better transparency on how decisions are made on such big matters such as listing on the Ghana Stock Exchange. Who was involved, what informed the decision, and how does that align with our legal regime, Ghanaians need to know and understand these things,” she quipped.
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, signaling Ghana’s strategic entry into the global lithium market amid the increasing demand for green energy resources.
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.
