Wednesday 3rd December 2025
by inAfrika Newsroom
Ghana critical minerals value chain is rapidly becoming a test case for how African countries handle the energy transition boom. Long known as Africa’s top gold producer, Ghana now holds commercially viable lithium deposits alongside bauxite, manganese and other minerals central to batteries and renewables. In 2023 the government adopted a Green Minerals Policy and has since moved to ban the export of raw lithium and restrict unprocessed bauxite exports, signalling a decisive shift toward domestic processing. For investors and policymakers, the question is whether the Ghana critical minerals value chain can move beyond raw ore into refineries, midstream plants and industrial parks.
The strategic shift begins with policy. The Green Minerals Policy covers lithium, graphite, bauxite, manganese, cobalt, copper and other transition metals, framing them as national assets that must support energy transition industries, not just fiscal revenue.Government has signalled that future contracts will emphasise state equity, local content and processing obligations, with the Minerals Income Investment Fund managing state stakes and dividends.
At the same time, Ghana is reforming its broader mining law for the first time in nearly two decades. New legislation aims to shorten licence durations, remove automatic renewals, and require companies to dedicate a share of gross mineral revenue to local development, rather than only central-government budgets. This is meant to answer long-standing complaints that mining communities see little benefit from extraction, especially in gold belts.
The market context also matters. Global demand for lithium, manganese and other critical minerals is forecast to grow several-fold by 2040 as electric vehicles, grid-scale storage and renewables scale up. Ghana, with identified deposits of lithium, bauxite and manganese, is positioning itself as a “responsible partner” in this supply chain, emphasising transparency and ESG standards to differentiate from more contentious jurisdictions.
The first value node is upstream, at the mine–plant interface. The Ewoyaa lithium project illustrates both opportunity and tension: communities expect jobs and infrastructure, while government demands refining and higher royalties, and investors need predictable terms. Structured deals that lock in local conversion of spodumene concentrate to battery-grade chemicals—rather than raw exports—would anchor new processing plants near existing mining towns.
The second node is midstream processing and industrial parks. Ghana already plans to ban raw bauxite exports and push alumina and aluminium production domestically, drawing on an estimated 900 million tonnes of reserves.Similar logic applies to lithium and manganese, where chemical plants, cathode-material facilities and alloy producers can cluster around dedicated energy and logistics infrastructure. Green manufacturing and transition-mineral investment guides already envision parks linked to power upgrades and rail or port corridors.
The third node lies in supporting infrastructure. Critical minerals projects need reliable power, water, roads, ports and storage. Ghana’s energy transition framework explicitly links lithium and other minerals to clean energy industries, including battery manufacturing and grid-storage solutions. Corridors from mining regions to ports like Takoradi and Tema, and to new industrial enclaves, will therefore require targeted investments in rail, bulk terminals and industrial real estate.
Downstream, there is scope for component manufacturing and recycling. While full electric vehicle production may be ambitious in the near term, Ghana can position itself in battery pack assembly, cables, transformers and other equipment that draw on its metals base. Over time, urban mining and recycling of e-waste and spent batteries could complement primary extraction, especially as domestic and regional markets grow.
For banks and investors, Ghana critical minerals value chain should be approached as an ecosystem, not just as isolated mines. Project finance for extraction is one element, but long-dated loans and equity for refineries, industrial parks, power plants and logistics assets may offer more stable, infrastructure-like returns. Lenders will need to build internal expertise on mineral processing, ESG risks and offtake structures, working closely with DFIs that can provide guarantees and subordinated capital.
Government’s main task is to align ambition with predictability. Policies to ban raw exports and mandate processing send a strong signal, yet they must be backed by clear timelines, transparent contract terms and realistic infrastructure plans. Investors will watch whether the new mining laws are applied consistently, how community development obligations are enforced, and whether local equity vehicles like the Minerals Income Investment Fund operate professionally and transparently.
Development partners can help by supporting governance and planning, rather than just funding individual deals. Technical assistance on contract design, revenue management, environmental safeguards and community consultation is essential if Ghana is to avoid the pitfalls seen in other resource booms. Climate finance windows, meanwhile, can back green power and low-carbon processing technologies for new mineral parks.
If Ghana succeeds, Ghana critical minerals value chain could turn lithium, gold and bauxite from symbols of missed opportunity into foundations of a diversified, energy-transition-ready economy. The country would export not only ore, but higher-value materials and components, while mining regions see more visible benefits. For serious decision-makers, the moment to shape that outcome is now—before investment patterns and contracts lock in another generation of raw export dependence.
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