Samuel
A. Jinapor, MP, Minister Lands and Natural Resources, has hailed the listing of
Atlantic Lithium's shares on the Ghana Stock Exchange (GSE) as a landmark
event, signalling a paradigm shift in the exploitation of Ghana's mineral
wealth.
Atlantic Lithium, the entity overseeing the Ewoyaa Lithium Project in the
Central Region, marked its official entry onto the Ghana Stock Exchange on
Monday, May 13, 2024, by offering shares valued at GHC649,669,053.
The company's prospectus sets the indicative price for the GSE listing at
GH₵4.40 reflecting the valuation from the Primary Listing Market.
Speaking at the ceremony, Hon. Jinapor emphasized that Atlantic Lithium's
presence on the GSE aligns with government's strategic vision of indigenizing
the mining sector and enhancing value addition.
He highlighted that the GSE listing satisfies a pivotal requirement outlined in
the pact between the state and the firm, thereby ensuring Ghanaian
proprietorship of the Ewoyaa Lithium endeavor.
The Minister further noted that the GSE listing exemplifies the government's
dedication to positioning Ghanaians at the forefront of the mining industry,
especially within the large-scale mining domain.
“This is to fulfill one of the very important commitment 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 talks about how the
mineral resources of Africa and Ghana has not benefitted the owners of the
resources. The reason why it has been so is because we’ve not been able to
indigenize the sector and add value to the resources.
“This is the first building blocks indigenizing the mining sector of our
country, exploitation of green mineral resources and indigenizing what Atlantic
Lithium is coming to do in Ghana. This is to make sure that Ghanaians have a
stake in what they are coming to do here. It will mean that Ghanaians can
participate in the project. It will ensure that Ghanaians can own share and
become stakeholders of this mining establishment,” he said.
Mr. Neil Herbert, the Executive Chairman of Atlantic Lithium said that the
decision by his company to trade on the Ghana Stock Exchange is indicative of
its commitment to contributing to Ghana’s effort to the fight against climate
exchange.
He said “We believe that the company’s listing on the GSE is a true reflection
of Ghana’s commitment to playing its part is the fight against climate change
by sanctioning long-term lithium production”.
The Chief Executive Officer of the Minerals Commission, Mr. Martin Ayisi said
“I’m excited that the next three years will witness significant event in Ghana
with launching galore, started by Atlantic Lithium. This is a new chapter for
us and it is one of the cardinal policies of government.”
Madam Abena Amoah, the Managing Director of the GSE acknowledged the
contributions of key persons and organizations including the Minerals
Commission and Ministry of Lands and Natural Resources, Chamber of Mines and
the Minerals Income Investment Fund (MIIF) for the roles they played towards
the coming into force of the deal.
Source: Peacefmonline.com