Atlantic Lithium has appointed Edward Koranteng as a nonexecutive director to its board, effective immediately.
Koranteng is a lawyer and seasoned corporate investment banker with extensive experience in Ghana. He is well-positioned to support the company’s goal of establishing the country’s first lithium mine.
Since 2021, Koranteng has served as the CEO of Ghana’s Minerals Income Investment Fund (MIIF), where he has managed the country’s equity interests in mining companies and overseen the royalties paid by these companies to the state.
His appointment as a nonexecutive director aligns with the terms of MIIF’s $5 million investment in Atlantic Lithium.
This investment is part of Atlantic’s planned Phase 1 funding of $32.9 million to accelerate the development of the Ewoyaa lithium project.
Koranteng previously led Ghana International Bank’s East, Central, and Southern Africa portfolio, where he spearheaded various financing projects in Ethiopia, Ghana, Tanzania, Kenya, and Malawi.
Neil Herbert, Chairperson of Atlantic Lithium, commented that Koranteng’s appointment will enhance Ghanaian representation in the strategic direction of the company and the Ewoyaa project. Herbert noted that Koranteng’s legal and corporate expertise would significantly advance the project.
Atlantic Lithium is currently finalizing a second stage of investment from MIIF.
Koranteng, speaking on behalf of MIIF, expressed that the fund’s investment in Atlantic Lithium supports the Ghanaian government’s goal of maintaining the country as a preferred mining destination in Africa.
He looks forward to collaborating with the Atlantic board to develop the world-class Ewoyaa mine to full production.
