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MIIF mulls investment in Ada Songhor Salt project

The Minerals Income and Investment Fund (MIIF) has revealed plans to support the development of the salt industry in Ghana with the Ada Songhor Lagoon as utmost priority.

This followed a working tour by the Board and Management of MIIF and o cials of the Ghana Stock Exchange. The Ada Salt pans on the Songhor Lagoon have the potential to be the largest salt producing area in sub-Saharan Africa. The CEO of MIIF revealed to reporters that, “MIIF is far advanced with plans to invest in the Ada Songhor salt project towards de-

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veloping it to be the largest in sub-Saharan Africa. Ultimately this investment seeks to ensure that Ghana bene ts from the many uses of salt, especially as a core input to support the industrialization agenda of the Government of Ghana”.

The Ada Songhor pans which sit on some 41,000 acres straddling at least thirty-three (33) Ada Com- munities is larger in acreage than Walvis Bay of Namibia which is about 16,700 acres and is the largest in sub-saharan Africa.

According to o cials of Electrochem Ghana Limited which is the Ghanaian company developing the salt pans, the Songhor has the potential to produce more than 5 million MT at capacity with an estimated 650,000 metric tons (mt) of industrial salt in 2023 and circa 1.5 million MT over the next ve years with a 99.99% purity. MIIF’s Salt outlook and Investment MIIF has declared salt as a priority mineral in Ghana in line with its investment strategy of generating downstream to upstream value from every single mineral. According to Professor Douglas Boateng, the Board Chairman of MIIF, “the Fund is targeting investments across the