26.1 C
Accra
Saturday, May 25, 2024
BusinessMinister Jinapor applauds Atlantic lithium's listing on Ghana Stock Exchange

Date:

Minister Jinapor applauds Atlantic lithium’s listing on Ghana Stock Exchange

spot_img

Minister of Lands and Natural Resources, Samuel Abu Jinapor, lauds Atlantic Lithium’s shares listing on the Ghana Stock Exchange (GSE) as a significant milestone, marking a shift in Ghana’s mineral exploitation approach.

Atlantic Lithium, overseeing the Ewoyaa project in the Central Region, officially debuted on the GSE by offering 649,669,053 shares on Monday.

- Advertisement -

The company’s prospectus indicates a listing price of GHC 4.40 on the GSE, reflecting the valuation from the Primary Listing Market.

Addressing the ceremony on May 13, Minister Jinapor stressed that Atlantic Lithium’s GSE presence aligns with the government’s strategic goal of localizing the mining sector and boosting value addition.

- Advertisement -

He emphasized that the listing on the GSE fulfills a crucial stipulation laid out in the agreement between the government and the company, thereby securing Ghanaian ownership of the Ewoyaa Lithium project.

The Minister also observed that the GSE listing illustrates the government’s commitment to placing Ghanaians at the forefront of the mining sector, particularly in the realm of large-scale mining.

- Advertisement -

“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 so been 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.

According to Atlantic Lithium’s executive chairman Neil Herbert, his company’s choice to list on the Ghana Stock Exchange demonstrates its dedication to supporting Ghana’s efforts in the battle against climate change.

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, 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.”

Abena Amoah, GSE’s managing director, recognized the vital contributions of individuals and organizations such as the Minerals Commission, Ministry of Lands and Natural Resources, Chamber of Mines, and the Minerals Income Investment Fund (MIIF) for their involvement in facilitating the realization of the agreement.

Latest stories

I date intelligence and funny men – Tems

Grammy-winning Nigerian singer Temilade Openiyi has shared that she...

Ghanaian jailed 48 months in US for involvement in $3.8m romance scam

A Ghanaian national, Emmanuel Quamey, has been sentenced to...

Rooney given Plymouth Argyle head coach role

Plymouth Argyle, a Championship side, has appointed former England...

Ghana witnessed 2.9% GDP growth in 2023 – Amin Adam

During the Ministry of Finance's monthly briefing on Friday,...

Related stories

Ghana witnessed 2.9% GDP growth in 2023 – Amin Adam

During the Ministry of Finance's monthly briefing on Friday,...

Govt and Tullow Oil approve US$90million emissions reduction deal

Tullow Oil plc has unveiled a financial commitment of...

Cedi has experienced a 14.2% depreciation in 2024 – Amin Adam

Finance Minister, Dr. Mohammed Amin Adam has indicated that...

Cedi will be stable in medium-term after completion of DDEP – Finance minister

Finance Minister Dr. Mohammed Amin Adam has noted that...

Ghana’s Energy Transition Framework aims for net-zero emissions by 2070 – Deputy Energy Minister

Deputy Energy Minister, Collins Adomako-Mensah has unveiled an ambitious...

Govt commits GHS2.3bn to NIB restructuring and recapitalization

The government has approved GH¢2.3 billion for the restructuring...

Govt set to introduce SME training initiatives – Finance minister

The government has announced plans to enhance support for...

LEAVE A REPLY

Please enter your comment!
Please enter your name here