Closed & Current Investment Considerations
MIIF’s US$40 million investment in Asante Gold Corporation marked its entry into direct equity participation in producing mining assets. The investment supports operations at the Bibiani and Chirano mines, strengthening production capacity and positioning the Fund to generate long-term returns from Ghana’s gold sector.
Why it matters:
This investment establishes MIIF as an active participant in high-quality gold assets, securing both financial returns and strategic exposure to Ghana’s core mineral.
MIIF’s GH¢300 million investment in the Ada Songhor Salt Project supports the development of one of Africa’s largest salt production operations. The project is expected to unlock significant industrial value, enabling large-scale salt production for both domestic use and export, while catalysing job creation and economic activity in the Ada enclave.
Why it matters:
This investment positions MIIF at the centre of Ghana’s industrial minerals value chain, with strong potential for export growth and regional market leadership.
MIIF’s investment in Atlantic Lithium secures a strategic stake in the Ewoyaa Lithium Project-Ghana’s first lithium mine and a key asset in the global battery value chain. This positions the Fund to benefit from rising demand for critical minerals while supporting Ghana’s entry into the fast-growing electric vehicle and energy storage markets.
Why it matters:
The investment places MIIF at the forefront of the global energy transition, diversifying the portfolio beyond gold into high-growth, future-facing minerals.
SPECIAL PURPOSE VEHICLES (SPVs)
The Minerals Income Investment Fund (MIIF) incorporated Agyapa Royalties Limited, a pure gold royalties company,in November 2019, and will receive a portion of the Fund’s gold royalty’s income from specified mining leases. Agyapa Royalties will specialise in providing finance to fund exploration and production projects for mining companies and in return, receive royalties on the project’s production, or rights to a stream of gold. The key benefit of royalty companies is that they provide exposure to a mining company’s performance and growth without exposure to operating and capital costs.
It is the MIIF’s intention to list Agyapa in order to raise a diversified source of long term capital. Currently, Agyapa is 100% owned by MIIF on behalf of the Government of Ghana (GoG). Once the Company is listed on the London Stock Exchange and Ghana Stock Exchange, MIIF will be the largest shareholder, hence Agyapa Royalties will be ultimately majority-owned by the GoG.
