Ghana’s Ministry of Lands and Natural Resources has granted a mining lease for Atlantic Lithium’s flagship Ewoyaa Lithium Project, comprising the proposed mine and processing plant
Atlantic Lithium, an African-focused lithium exploration and development company, made the historic announcement adding that it will enable the advancement of the project towards commercial production. Ewoyaa Lithium Project is positioned to be one of the lowest capital and operating cost hard rock lithium prospects globally and indicates strong commercial viability alongside exceptional profitability potential according to Atlantic Lithium. It has the potential for a 2.7Mtpa steady state operation, producing a total of 3.6Mt of spodumene concentrate over a 12-year mine life.
The company stated that the granting of the lease demonstrates the Government’s support in the company as its partner of choice to deliver long-term lithium production. It is seen as another step in the country’s efforts to reaffirm its status as a leading mining destination.
The Ministry has granted Atlantic Lithium exclusive rights to carry out mining and commercial production activities over the area for an initial 15-year period, renewable in accordance with Ghanaian legislation.
Neil Herbert, executive chairman of Atlantic Lithium, remarked, “As the first to be granted for lithium in the country, the award of the Mining Lease for the Ewoyaa Lithium Project is auspicious for both Ghana and Atlantic Lithium. It serves as Ghana's statement of intent to establish itself as a leading hub in Africa in the EV supply chain through the long-term production of lithium, with Atlantic Lithium as its partner of choice in this objective.
"The Mining Lease is a major endorsement of the viability of the project and a landmark de-risking milestone in its advancement towards production. The Government of Ghana, which is eager to build upon its mining history that spans back over a century and diversify away from its long-standing gold production, has remained incredibly cooperative throughout our application process. We wholeheartedly welcome their support, alongside the intent shown by Ghana's sovereign wealth fund, MIIF, at this pivotal moment.
"We believe that Ewoyaa will showcase the Central Region and Ghana more broadly as a highly attractive mining investment jurisdiction. As a first mover in Ghana, we look forward to working closely with our in-country partners to set an example for responsible, modern mining, delivering long-lasting benefits to all stakeholders in the process.
"We consider the project to be one of the industry's leading lithium assets. Speaking on behalf of the entire Atlantic Lithium team, we are incredibly excited and proud to be playing such an important role in the development of Ghana's economy, including the opportunity to support Ghana's aspirations to further develop its lithium value chain.
"With our sights set on first production, work is now well underway to prepare Ewoyaa for shovel readiness. Meanwhile, we continue to de-risk and enhance the value of the project through further exploration. We look forward to sharing our progress on these activities in due course."
