Posted 9/7/2023, 9:21:00 PM

Ghana Wealth Fund Invests Millions in West Africa's First Lithium Mine as Demand Soars

Ghana's sovereign wealth fund investing $27.9 million for 6% stake in Atlantic Lithium, developer of West Africa's first lithium mine.
Investment part of surge in interest in lithium production amid clean energy transition.
In 2021, Piedmont Lithium took 9% stake in Atlantic Lithium to secure lithium supply.
Wealth fund buying additional 3.05% stake in Atlantic Lithium for $5 million.
Deal gives fund option to bid for lithium offtake through competitive process.

reuters.com

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9/10/2023

U.S., Saudi Arabia Seek to Secure Metals for Clean Energy in Africa

The United States and Saudi Arabia are in discussions to secure African metals valued at $15 billion in order to support their energy transitions, with a state-backed Saudi venture expected to buy mining assets in countries such as the Democratic Republic of Congo, Guinea, and Namibia, allowing U.S. companies the right to purchase part of the production.