Ghana has approved a green-minerals policy to help manage the exploitation and production of lithium, a step toward tapping into the multibillion-dollar global industry.
The cabinet approved the policy document on July 27 according to the Lands and Natural Resources Minister Samuel Jinapor.
It is expected to be passed by parliament before the end of the year, and will provide clear guidelines and a fiscal regime for mining so-called green minerals in a manner that ensures Ghana derives as much benefit as possible from its resources.
“Ghana is seeking to operate at a level that makes the best out of the resource as much as practical,” Jinapor said on August 3.
“Ghana’s Green Minerals Policy as approved by cabinet demands that not a single volume of lithium produced in this country will be allowed to be exported in its raw state.”
Ghana is Africa’s biggest gold producer and has deposits of other so-called green minerals including manganese, graphite, and cobalt.
The development of the lithium industry in Ghana comes as Western governments race to secure supplies of critical minerals needed for the transition to clean energy.
Companies including Australia-based Atlantic Lithium Ltd. are exploring lithium in Ghana, though the firm has yet to apply for a mining lease according to Ghana’s Minister for Mining.
According to the World Economic Forum WEF, The world could face lithium shortages by 2025, the International Energy Agency (IEA) says, while Credit Suisse thinks demand could treble between 2020 and 2025, meaning “supply would be stretched”.
