Closed & Current Investment Considerations
MIIF undertook its maiden investment in March 2022, in Asante Gold Corporation to a tune of US$20 million. The company has two (2) operating mines – Bibiani & Chirano and a development mine in Kibi.
ElectroChem Ghana Limited is a wholly owned Ghanaian company, mining salt since 2017. The project sits on a 41,000 acre salt field with the potential to produce over 1,000,000 MT p/a. MIIF is evaluating the project for possible investment to transform the asset into a significant salt player in Africa.
Lithium Asset
MIIF is considering a lithium-focused exploration and development company with assets in Ghana and Cote D’Ivoire, West Africa. The company is advancing its flagship project in Ghana to production. MIIF is evaluating a US$25 million investment in the Asset.
Gold Asset 2
Enchi gold project covers about 216 square kilometers located in southwest of Ghana, which is well known for prolific gold production and hosts numerous historical mines. Enchi is currently at different levels of exploration with promising results.
Small Scale Mining Incubation Program (SSMIP)
The Small-Scale Mining Incubation Program (SSMIP) is aimed at promoting accessible financing, technical support and investment in the Small-Scale gold mining sector. The sector contributes at least 30% of Ghana’s gold out. The SSMIP also focuses on promoting sustainable and environmentally friendly mining.
Other Prospects Under Investment Consideration
• Asset 1: Producing mine looking to expand its production by raising capital locally
• Asset 2: Mine support services looking to expand its assets base, and into other African markets
• Asset 3: Gold backed Exchange Traded Funds, structured with gold as the principal underlying asset
• Asset 4: Mine support services looking to acquire a multinational that is exiting the Ghanaian market
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.
