KEY POINTS
- Atlantic Lithium secures final permit to build Ghana’s first lithium mine.
- Parliament’s ratification of the 15-year mining permit is expected by mid-October.
- The Ewoyaa project is projected to produce 350,000 tonnes of lithium concentrate annually.
Atlantic Lithium has received its final regulatory approval to begin the construction of the Ewoyaa lithium mine, marking a significant step forward for Ghana’s first lithium mining operation.
The operating permit for the flagship project was granted, allowing the Australian company to move towards a final investment decision and start building both the mine and its processing plant.
Project Milestone and Parliamentary Approval
While Atlantic Lithium has cleared the regulatory hurdle, it is now awaiting the ratification of its 15-year mining permit by Ghana’s parliament, which is expected to resume on October 15, 2024.
According to Mining.com, once approved, construction could begin by the end of the year, setting the company on the path to becoming one of the top ten lithium producers globally.
Executive Chairman Neil Herber expressed optimism, saying, “We hope that ratification can occur in the coming sitting, which would set us on the path towards construction and operation of this globally significant lithium project.”
Funding and Partnership with Piedmont Lithium
The development of Ewoyaa is backed by Piedmont Lithium, which will cover nearly 70 percent of the $185 million project costs, as outlined in a 2023 feasibility study.
Piedmont, holding a 22.5 percent stake in Atlantic Lithium’s Ghana projects, will also receive half of the lithium produced at the mine to supply its refinery.
Also, the mine is expected to produce 350,000 tonnes of spodumene concentrate annually over a 12-year lifespan, placing Ewoyaa among the world’s largest lithium mines.
Moreover, the success of this project is expected to boost Ghana’s profile in the growing global lithium market.
A Key Player in Global Lithium Production
The Ewoyaa mine is set to deliver a total of 3.6 million tonnes of lithium concentrate, positioning Ghana as a critical supplier in the battery metals market.
Furthermore, as demand for electric vehicles and renewable energy storage increases globally, Ewoyaa’s contribution will be a significant addition to the world’s lithium supply chain.
Atlantic Lithium’s first major mining venture marks a new era for both the company and Ghana, which will now play a key role in the global push for clean energy solutions.
