The Minerals Income and Investment Fund (MIIF) has said plans are far advance to list Electrochem Ghana Ltd on the Ghana Stock Exchange (GSE) before the end of this year.
The Ada Songhor Salt operated by Electrochem is a 41,000-acre salt bank compared to what is in Namibia, which is 16,700 acres, that is the largest salt bank in Sub Saharan Africa.
Speaking at the just ended Ghana Mining Expo in Takoradi, the CEO of MIIF, Edward Koranteng said investing in the project is strategic and could rake in a billion-dollar revenue.
“We have done our research and we intend to look at salt as one of the alternative minerals that has huge potential for Ghana.
“We are working right now with Electrochem, going through quite a series of analysis, working with the likes of Ernst and Young, Ghana Stock Exchange and working on the valuation with the intention of up to US$30 million in the project,” he said.
“The promoters and its bankers have invested US$60 million already and as we speak, that project has the biggest salt loading area on the entire continent, at a 50% usage, we are looking at about a billion dollar in revenue…, we are also working with the Ghana Stock Exchange in listing this investment on the Ghana Stock Exchange before end of 2023,” Koranteng said.
Listen to Edward Nana Yaw Koranteng in the attached audio clip below:
Reporting by Fred Dzakpata in Accra
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