The fund responsible for managing Ghana’s mining royalties plans to invest up to $60 million this year in companies both within and outside the gold-producing nation, its chief executive told Reuters earlier this month. The Minerals Income Investment Fund (MIIF) bought about $20 million worth of shares late February in the Toronto- and Frankfurt-listed Asante Gold Corporation, which operates Ghana’s Bibiani Gold Mine.
By investing in firms with high growth potential and reviewing the strategies of collecting royalties from smaller firms, Koranteng said MIIF hoped to ‘widen Ghana’s royalty net’ and keep the fund growing.
This year, the fund has particular interest in industrial salt companies, which Koranteng says could become major suppliers to the region’s numerous gas and oil wells.
Starting in July, MIIF also plans to invest in about 400 small-scale gold mining outfits, in hopes of growing them into profitable mid-sized firms
Source: Africa Briefing