- Atlantic Lithium lists on GSE
- Shares valued at GHC649,669,053
- Ghanaians to benefit from mining resources
The Minister for Lands and Natural Resources, Samuel Jinapor, has hailed the trading of Atlantic Lithium’s shares on the Ghana Stock Exchange (GSE) as a landmark event, signaling a paradigm shift in the exploitation of Ghana’s mineral wealth. On Monday, May 13, 2024, Atlantic Lithium, the entity overseeing the Ewoyaa Lithium Project in the Central Region, made its official debut on the Ghana Stock Exchange, 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, Mr. Jinapor emphasized that Atlantic Lithium’s presence on the GSE aligns with the 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. He emphasized that this development marks a significant step towards indigenizing the mining sector, adding value to Ghana’s mineral resources, and ensuring that Ghanaians have a stake in the sector.
Mr. Neil Herbert, the Executive Chairman of Atlantic Lithium, expressed his company’s commitment to contributing to Ghana’s efforts in the fight against climate change. He stated, “We believe that the company’s listing on the GSE is a true reflection of Ghana’s commitment to playing its part in the fight against climate change by sanctioning long-term lithium production.”
The Chief Executive Officer of the Minerals Commission, Mr. Martin Ayisi, expressed his excitement about the development, stating, “I’m excited that the next three years will witness significant events in Ghana, starting with Atlantic Lithium. This is a new chapter for us, and it is one of the cardinal policies of the 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 their roles in making the deal a reality.
This development marks a significant milestone in Ghana’s mining sector, as it paves the way for Ghanaians to participate in the ownership and development of the country’s mineral resources. The listing of Atlantic Lithium’s shares on the GSE is expected to have a positive impact on the country’s economy and contribute to the growth of the mining sector.
