Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Ghana plans to process its first lithium locally to ensure it maximizes its revenue from the metal, a key component of electric vehicle batteries, Minister for Lands and Natural Resources Samuel Jinapor said.
“We will not export our green minerals in their raw form,” Jinapor said on the sidelines of the Bloomberg New Economy Gateway Africa forum in Morocco on Wednesday.
“At the very least, we must participate at some level of the value chain” even if producing EVs may not be realistic in the short term, he said.
Australian miner Atlantic Lithium expects to start production at Ghana’s first lithium mine in the second half of 2024, and the government is developing consistent policies on green minerals to attract investors, according to Jinapor.
Ghana mined 116 tons of gold in 2022, restoring it to its place as Africa’s top producer, and new investments may make that lead “unassailable,” he said.
(By Aisha S Gani and Janice Kew)
Comments