Ghana Approves Green Minerals Policy to Oversee Lithium Mining

The Ghanaian government has approved a green-minerals policy today to better oversee the mining and production of lithium. Bloomberg Africa shared this development on Twitter/X, highlighting the government’s commitment to enhancing the value of Ghana’s mineral resources, with a focus on green minerals.

This decision follows an earlier statement by Samuel A. Jinapor, the Minister of Lands and Natural Resources of the West African nation. He emphasised that Ghana will not export its raw lithium and other green minerals under any circumstances.

Ghana aims to actively participate in various stages of the value chain while increasing its earnings from this metal. Lithium is a crucial element in electric vehicle batteries, and Ghana is determined to optimise its revenue by being more involved in its processing.

The recently approved policy on green minerals aims to attract investors. This policy, endorsed by the cabinet last month, provides clear guidelines and a fiscal framework for mining green minerals. The goal is to ensure that the country maximizes its benefits from these resources.

Ghana appears to view lithium as a potential “new oil.” This valuable metal is essential for electronics and electric vehicles. An Oxford Business Group report claims, the country is on track to become West Africa’s first lithium-producing nation.

In June, an Australian exploration company Moab Minerals acquired an initial 14.64% stake in CAA Mining. This company, based in UK, is focused on lithium and gold exploration in Ghana. Through this purchase, Moab Minerals gained ownership of three projects that complement its existing assets. This move expands Moab Minerals’ role as a junior exploration company and allows its shareholders to invest in lithium.

The government of Ghana is currently working on granting leases, licenses, and permits for the extraction, mining, and production of lithium within the country. While different explorations for this mineral are currently underway, this policy aims to bring regulation and effective management to the entire process.

With the approval of this policy, the exploitation of lithium and other essential minerals will be directed toward benefiting the people of Ghana.