- The company (LRGL) has invested $2 million into exploration for lithium on a 646-square kilometre (KM2) concession for the lithium refinery.
- The firm expressed awareness of Ghana’s green minerals policy and the preparedness of the lithium consortium to invest in the value chain.
Ghana has commenced plans to set up Africa’s first lithium refinery in Takoradi in the Western Region. The refinery, established by a consortium of CAA Mining Ltd, Livista Energy, based in Luxembourg, and its Ghanaian subsidiary, Livista Ghana Ltd, is worth $500 million.
The lithium processing plant is part of a comprehensive plan to invest in the country’s budding lithium value chain in line with the Green Minerals Policy approved by the government recently. Among other measures, the Green Minerals Policy makes it mandatory for value to be added to lithium in Ghana rather than exporting it in its raw form.
Lithium Resources Ghana Ltd (LRGL) has invested $2 million into exploration for lithium on a 646-square kilometre (KM2) concession on the lithium corridor in the Central Region. It has also committed to rolling out a $10 million lithium drilling programme before the end of the year. This is, however, subject to the issuance of a prospecting licence by the Minerals Commission.
The CEO of CAA Mining Limited, Douglas D. Chikohora, told the Daily Graphic that the refinery would be completed and operationalised in 2026. He said a parcel of 200-acre land within the Takoradi Port City had been set aside to host the refinery. He added that preliminary discussions had been held with the Ghana Gas Company Limited for power extension and construction of a service pipeline from the existing pipeline grid to the refinery in April this year.
The mining executive said that when completed, the refinery would be the third of its kind in the world and the first on the continent. Chikohora said the lithium consortium was aware of the country’s green minerals policy and was prepared to invest in the value chain.
The CEO said work would commence on the refinery after issuing a prospecting licence to LRGL (a joint venture of CAA Mining Ltd and local entity Empire Rare Earth) and Metal Group Limited. He added that upon issuance of the licence, drilling would begin, and the volumes gotten would determine the size of the refinery that would be constructed.