A minerals consultant, Francis Owusu-Akyaw, has urged local entrepreneurs to seize the emerging opportunity in the lithium mining industry, which is set to commence in Ghana.
He emphasized the importance of Ghanaian businessmen investing in the lithium sector to ensure they benefit from the entire value chain that will be established as a result of this industry.
Owusu-Akyaw made these comments during an interview on the “Good Morning Boss” program on 93.7fm, hosted by Wofa Kofi Appiah.
His remarks came in response to the recent granting of a 15-year mining lease to Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, to initiate mining operations in the Ewoyaa area of the Mfantsiman Municipality in the Central Region.
The mining lease was issued after the completion of prospecting, feasibility studies, and negotiations between the government and the company.
He commended the Minister of Lands and Natural Resources, Hon. Samuel Abu Jinapor, and the Ghanaian government for raising the royalties rate to 10%, up from the previous 5%, and increasing the carried interest to 13%. Additionally, he lauded the provisions for state and Ghanaian participation and value addition in the mining sector.
Owusu-Akyaw highlighted the significance of the lithium mining industry, especially as the global automobile industry is transitioning from fossil fuel vehicles to electric ones. Lithium is a key component in the production of car batteries, and with the anticipated shift in demand for electric vehicles, Ghana is well-positioned to capitalize on its substantial lithium deposits.
He further revealed that lithium by-products are also essential in the manufacturing of glass and solar panels. This multi-pronged utility positions Ghana to benefit substantially from the diverse value chain that will be established within the lithium mining sector.
Moreover, Owusu-Akyaw pointed out that Ghana possesses various untapped mineral deposits, which are poised for future demand spikes. As the world increasingly embraces green technologies and sustainable energy sources, the demand for these minerals is expected to rise, providing further opportunities for Ghana’s mineral-rich economy.
SOURCE: DAILY MAIL GH