The Minerals Income Investment Fund (MIIF) of Ghana has indicated its intention to invest up to $30-million in Aim-listed Atlantic Lithium, to aid the establishment of Ghana’s first lithium mine.
Atlantic advises shareholders that there is no guarantee such an investment will be made by the fund or on what terms such an investment might be made. Once discussions progress, the company will update shareholders accordingly.
The State-owned MIIF manages equity interests in mining companies, to receive mineral royalties and other related income. According to Reuters, the fund has $200-million with which it plans to expand its portfolio in the country.
Atlantic is advancing the Ewoyaa lithium mine, which has probable ore reserves of 18.9-million tonnes, grading 1.24% lithium oxide.
A prefeasibility study on the project envisions an openpit operation producing 255 000 t/y of 6% lithium spodumene concentrate.