Ghana is hoping to attract more investors in the mining sector by announcing plans to explore Lithium.
The country’s President Nana Akuffo Addo made public the Lithium exploration plan at the 2019 edition of the Investing in African Mining Indaba, at Cape Town in South Africa.
In total, about 46 percent of lithium produced globally goes toward battery production. 27 percent is meant for ceramic and glass, while 7 percent goes to lubricating greases.
With the plan to explore this mineral Ghana will soon join top lithium producers such as Australia, China and Zimbabwe.
Ghana last year announced that it has discovered Lithium in large quantities which can now be processed commercially.
Currently the mineral has been identified in the country’s Volta Region. Ghana is already rich in gold, bauxite and other natural mineral resources.
The Ghanaian president bemoaned past negotiations by African countries with companies that mine their minerals.
He said Africa has come of age, and should not have to give unusual tax and royalty incentives.
Akufo Addo also stressed the need for mining companies not to expect to make extraordinary profits on the continent.
“Communities should be able to examine mining contracts, find out how much revenue has been generated, and how, and on what it is being spent,” he said.
Akufo-Addo ssaid “mining, can help rapidly to grow Africa’s manufacturing sector, and be the champion of economic growth on the continent.”
“We cannot, and should not continue to be merely exporters of raw materials to other countries,” he added.