Minerals Income Investment Fund to invest in lithium and salt

MIIF told the biggest mining investment event in Africa that Ghana has proven commercial deposits of lithium which is the basic resource needed to power the burgeoning electrical vehicles (EV) market.

The industrial salt sector holds much promise for Ghana with a West African regional demand alone estimated at circa $600 million dollars per annum.”

Ghana and Senegal are the only countries with the resource potential to produce industrial salt in West Africa to meet such demand with Ghana having a much more developed base

“The Ada Songhor Salt ponds have a proven track record of producing high quality evaporated salt, about 41,000 acres of lagoon basin with a significant potential for large-scale salt production for export and industrial use

The current fields have approximately 13,000 acres of salt ponds and pans, but production averages only about 20% of capacity

In our view, there is the potential to produce over a million tons of salt and other industrial chemicals for both the local and the international markets, and make Ghana the center of salt production in the shortest possible time

The incubation program, which is a $500 million program, plans to provide tracked mining equipment, a gold tracing mechanism, and a guaranteed off-take at a discount to licensed small-scale gold mining companies in Ghana on the condition that these mines operate under strict corporate governance principles and mine in an environmentally friendly manner as prescribed by law.