The Case for Ghana

Lithium

Ghana entered the global lithium supply chain in 2018 with the discovery of its first significant deposits. By March 2026, the Ewoyaa project’s Mining Lease had been ratified by Parliament — the first lithium mining lease in Ghana’s history. Construction is underway. The global lithium market, forecast to reach $96.5 billion by 2030, creates strong commercial fundamentals for early positioning.

The Ewoyaa project’s resource base of 36.8 million tonnes at 1.24% Li2O, targeting 300,000 tonnes of spodumene concentrate annually, demonstrates both the scale and the commercial viability of Ghana’s lithium endowment. This is hard-rock pegmatite mining, not brine — a faster, more controllable production process for operators with the right expertise.

Gold

Ghana’s gold sector is not a future story — it is an established one. With over 3.7 million ounces produced annually, Ghana consistently ranks as Africa’s top gold exporter. The 2025 Gold Board reforms, combined with a $279 million revolving fund allocated in the 2025 Budget to purchase and export ASM gold, signal a government actively investing in sector formalisation and growth rather than retreating from it.

For investors and operators, this creates two distinct opportunities: participation in a formalising ASM sector with significant new framework support, and continued access to large-scale mining opportunities in Ghana’s established Ashanti and Brong-Ahafo gold belts.