On July 7, 2020, Atlantic Lithium announced they are well on their way to developing Ghana’s first lithium mine in what is part of a massive push by the African nation to become the home of the world’s largest lithium production hub. The move, which has been years in the making, is a monumental step forward for the West African nation.
The project will benefit both Ghana and Atlantic Lithium, with the former set to gain £100 million in direct foreign investment from the British-based firm. When completed, the shaft mine will allow Atlantic Lithium to extract up to 300,000 tons of lithium ore per year, which will significantly bolster the production of lithium used in batteries and other electronic devices.
What makes the potential project even more remarkable is that Atlantic Lithium plans to do it at a fraction of the cost of producing the same ore in China or other parts in the world. In addition, the company has promised to manufacture environmentally friendly methods for mining, which is expected to directly benefit local populations. The projects will also create hundreds of direct and indirect jobs, providing much-needed economic stimulus to the region.
The process to build Ghana’s first lithium mine is an impressive example of how a nation can achieve sustainable economic growth through private sector development. Ghana has long been considered an untapped economic wonder with an abundance of human and natural resources. With the help of Atlantic Lithium, the nation is taking the first steps towards becoming a major player in the global lithium market.
Now with their first mine officially on the horizon, Ghana has the potential to become a center for lithium exploration and production in the coming years. It is expected that the project will bring significant benefits to both the Ghanaian economy and the global lithium industry.