Officials ringing the bell to officially announce Atlantic Lithium’s listing on the GSE
Officials ringing the bell to officially announce Atlantic Lithium’s listing on the GSE

Atlantic Lithium lists on GSE - First Greenfield company on Ghanaian bourse

Atlantic Lithium, the entity overseeing the Ewoyaa Lithium Project in the Central Region, became the first international green minerals company to list its shares on the Ghana Stock Exchange (GSE).


Coming seven months after its subsidiary, Barari DV Ghana Ltd, was granted the country’s first lithium mining lease, Atlantic Lithium is initially offering shares valued at about GH¢650 million on the Ghanaian capital market, with an indicative price of GH¢4.40 per share.

The Minister of Lands and Natural Resources, Samuel Abu Jinapor, told the Daily Graphic yesterday that Atlantic Lithium had made history as the first greenfield company to list on the GSE.

Mr Jinapor also said the agreement between the state and the corporation was arguably the best approach to indigenising the mining sector and enhancing value addition for all stakeholders.

“This feat is historic because it is the first time in the history of this country that a greenfield project has been listed on the GSE. This is to say that a company that has just completed feasibility and about to start construction has listed on the GSE”.

“It is equally refreshing to note that the listing of the shares of Atlantic Lithium on the GSE is in fulfilment of a key conditionality in the mining lease as stated clearly in the last paragraph under Schedule Two of the Mining Lease,” he said.


Atlantic Lithium was granted a mining lease to mine lithium at Ewoyaa in October 2023 after going through laid down processes. As a measure to ensure that other interested Ghanaians benefit from the mining operation, the company was required, under the new mining policy, to list on the GSE and its shares made available to Ghanaian entities, individuals and pension funds.

It was also required to pay one per cent of its revenue into a Community Development Fund to be used for the development of communities impacted by their operations. In terms of value addition, the company was mandated to submit a feasibility study for the utilisation of feldspar and the establishment of a chemical plant.

The government, through the Minerals Income Investment Fund (MIIF), also was to acquire additional six per cent shares in the mining company and 3.06 per cent shares in the holding company.

Requirements met

Mr Jinapor said by listing on the GSE, Atlantic Lithium had complied with the government’s new policy initiatives to indigenise the mining sector as set out in Regulation1(e) of Minerals and Mining (Local Content and Local Participation) Regulations, 2020 (L.I 2431) which required that provisions be made to achieve and maintain a degree of participation for Ghanaians in the mining industry value chain.

Again, he said, it had fulfilled the requirements of Regulation 13(2) of L.I 2431 which required companies to list at least 20 per cent of their equity on the GSE. “These policy initiatives and laws have made it possible for Atlantic Lithium to list on the GSE. By offering the shares on the GSE, we are providing an opportunity for Ghanaians to participate and become owners in this project,” he said.

Mr Jinapor added that Atlantic Lithium had already brought on board MIIF as a new major, strategic shareholder on January 24, this year following a $5-million investment in Atlantic Lithium by way of shares subscription.

The Lands and Natural Resources Minister explained that the investment, which was the first stage of MIIF's proposed $32.9 million investment, demonstrated the government's support for the advancement of the project.

The minister added that in compliance with the requirement of the mining lease, Atlantic Lithium had also submitted a feasibility report on feldspar and the refinery to the Minerals Commission.

“At the appropriate time, I will update the public on the next step of these reports,” he said.
Touching on the one per cent Community Development Fund, Mr Jinapor said that requirement could only be fulfilled when the company started production.


The minister urged the company to continue to abide by the mining laws of the country and ensure that its operations were responsible, sustainable and environmentally sound. Mr Jinapor reiterated that the government was committed to ensuring that as much as possible, there was value addition to green minerals before exporting them.


In 2017, Atlantic Lithium Ltd commenced exploration for lithium at Ewoyaa in the Central Region and discovered high grade lithium in commercial quantities. On July 13, 2022, Mr Jinapor presented a policy statement on the development and management of green minerals to Parliament, which was anchored on ensuring that the exploitation of those green minerals inured to the benefit of Ghanaians.

The policy emphasised the need for effective and efficient exploitation, local content and local participation as well as value addition. The policy proposal for the exploitation and management of green minerals was subsequently approved by Cabinet on July 27, 2023.

Among other things, the policy provided for an increase in royalty rate for green minerals, an increase in state and Ghanaian participation in all green mineral operations to a minimum of 30 per cent, an enhanced local content and local participation, including listing on the GSE and value addition and beneficiation.

Based on the policy, the country entered into negotiations with Atlantic Lithium, leading to an agreement with the company for the exploitation of lithium at Ewoyaa.


Connect With Us : 0242202447 | 0551484843 | 0266361755 | 059 199 7513 |

Like what you see?

Hit the buttons below to follow us, you won't regret it...