Ghana sovereign wealth fund invests $2m in graphite project
Australian junior Castle Minerals will accelerate its graphite production plans in Ghana – a country that has ambitions to establish West Africa’s first critical minerals hub.
Castle on Tuesday announced an indicative nonbinding term sheet with Ghana’s Minerals Council Income Investment Fund (MIIF) for a combined investment of $2-million.
The deal will fund the Kambale graphite project through to a prefeasibility study to evaluate the production of specialist natural graphite concentrates and value-added products used in the manufacture of lithium-ion battery anodes for electric vehicles (EVs) and energy storage.
“Kambale’s fine flake graphite is the form required for lithium-ion battery anode manufacture and extensive testwork has demonstrated that it can be processed to achieve the stringent specifications required for use in anode manufacture. The high-grade 22.4-million-tonne mineral resource will comfortably support a long-term production facility,” says Castle executive chairperson Stephen Stone.
The company has also undertaken to list on the fast-growing Ghana Stock Exchange, which should open up access to additional in-country investment and capital.
The MIIF has already formed an alliance with Atlantic Lithium and its Ewoyaa lithium project, and the Castle investment aligns with the country’s aspiration to build Sub-Sahara’s first lithium-ion battery manufacturing hub.
MIIF CEO Edward Nana Yaw Koranteng commented that Ghana was moving closer to positioning itself in the global EV supply chain.
“Ghana’s status as one of the best mining investment destinations in Africa is considerably reinforced,” said Koranteng.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
