150 billion worth of lithium discovered in Ghana

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The attention of the Minerals Commission has been drawn to a statement and a video in the public domain on the discovery of One Hundred and Fifty Billion Dollars’ worth of lithium in Ghana. While Lithium has been discovered in Ghana, the quantity and other information contained in the statement and video are false and misleading

Barari DV Ghana Limited (Barari), a wholly-owned Ghanaian company that holds a prospecting license for gold, lithium, and other minerals, discovered lithium at Ewoyaa near Saltpond in the Mfantsiman Municipality of the Central Region. Barari operates through a joint venture with Ironridge Resources Limited (Ironridge), an Australian incorporated company that is listed on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange in the UK.

The discovery made by Barari/Ironridge still requires further exploration before a feasibility study can be undertaken. Consequently, all activities of Barari/Ironridge at this stage are purely for exploration.

The Commission has not recommended the grant of a mining lease, nor has the Minister for Lands and Natural Resources granted a mining lease or authorization to Barari/Ironridge or any company whatsoever to mine or extract lithium in Ghana.

In view of the above, the general public is hereby informed as follows:

  1. Ironridge has not been granted a mining lease to mine lithium in Ghana therefore the statement in the public domain that Ironridge has been granted a thirty-year mining lease, renewable for another thirty years, is false;

  2. There is no tax holiday under the fiscal regime for mining in Ghana and no such waiver has been granted to Ironridge;

  3. Ironridge has not submitted a feasibility study or report to the Commission which has defined or delineated lithium reserves in Ewoyaa to be worth US$150 billion; and

  4. Ironridge is not registered as an entity or company operating in the Free Zones.

The Commission wishes to remind the media and the general public that the Minerals Commission is available to provide information on all mining activities or operations in Ghana and the public is advised to seek clarification or verify such information with the Commission before they are made public.

Martin Ayisi

Acting Chief Executive

Minerals Commission

Source: Minerals Commission

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