Atlantic Lithium Makes History on Ghana Stock Exchange

Atlantic Lithium, a pioneering company in the development of lithium mines in Africa, marked a historic milestone on May 13th, 2024, by becoming the first lithium-focused firm to trade on the Ghana Stock Exchange (GSE) under the ticker symbol “ALLGH.” This event is notable for several reasons:

Image: Fred Dzakpata

First Lithium Company on the GSE: Atlantic Lithium’s listing represents the first time a lithium company has been admitted to the Ghanaian stock market, setting a precedent for future mineral-focused enterprises in the region.

Ghana’s First Lithium Mine: The company’s flagship project, the Ewoyaa Lithium Project, is set to be Ghana’s inaugural lithium mine. This development is expected to position Ghana as a key player in the global lithium supply chain, essential for the green energy transition.

Potentially Large Mine: With an estimated annual production of 365,000 tonnes of spodumene concentrate, the Ewoyaa project is poised to become one of the world’s largest spodumene mines, significantly impacting the lithium market.

Opportunity for Ghanaians: The listing provides Ghanaians with the opportunity to invest in this groundbreaking project, fostering local economic growth and development.

Ghanaian officials view this as a crucial step for the country’s economy and its role in supplying lithium for global green energy initiatives. In a ceremony at Cedi House in Accra, Atlantic Lithium’s listing was celebrated as a monumental chapter in Ghana’s mining history and a significant milestone towards the production of the Ewoyaa Lithium Project.

The event saw attendance from notable dignitaries across Ghana’s mining sector, government officials, fund managers, and key stakeholders. Representatives included members from the Minerals Commission, the Minerals Income Investment Fund (MIIF), the Ghana Chamber of Mines, the GSE, the Securities and Exchange Commission, the Australian High Commission to Ghana, local government officials, and the listing’s transaction advisers, Black Star Brokerage Limited and JLD & MB Legal Consultancy.

The event saw attendance from notable dignitaries across Ghana’s mining sector, government officials, fund managers, and key stakeholders. Representatives included members from the Minerals Commission, the Minerals Income Investment Fund (MIIF), the Ghana Chamber of Mines, the GSE, the Securities and Exchange Commission, the Australian High Commission to Ghana, local government officials, and the listing’s transaction advisers, Black Star Brokerage Limited and JLD & MB Legal Consultancy.

Honourable Minister for Lands and Natural Resources, Samuel A. Jinapor, hailed the company’s listing as an “extraordinary feat” and emphasized the importance of Ghanaians participating in the value chain established by Atlantic Lithium. He highlighted the economic benefits and the strategic importance of this development.

Atlantic Lithium Chairman Neil Herbert expressed pride in the company’s contribution to Ghana’s efforts towards global climate change goals. He noted that the GSE listing underscores Ghana’s commitment to establishing a sustainable supply of lithium.

A distinguished guest at the ceremony was Alexandra Amoako-Mensah, whose groundbreaking thesis in 1971 led to the discovery of the Ewoyaa deposit. She expressed her immense joy at witnessing the realization of lithium production in Ghana, a development she had never imagined during her lifetime.

MIIF CEO Edward Koranteng celebrated the listing as the culmination of two years of dedicated work by all partners involved in securing the Ewoyaa Mining Lease. He emphasized that this achievement is a critical step towards making mining a cornerstone of Ghana’s economy.

For more information, please visit Atlantic Lithium on GSE.

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