Atlantic Lithium, the lithium developer, has received authorization from Ghana’s Environmental Protection Agency (EPA) to reroute two transmission lines passing through the Ewoyaa lithium project’s designated mining areas.
In an announcement to its shareholders on Tuesday October 10th, the company emphasized that the proposed rerouting of the transmission lines, currently crossing the designated project area, is an integral component of the project’s mine plan.
This development marks a significant milestone as the company progresses Ewoyaa toward shovel readiness.
The EPA approval, valid until March 2025, allows the Ghana Grid Company (GRIDCo) to undertake the line diversion on behalf of Atlantic.
Atlantic CEO Keith Muller stated, “The repositioning of the transmission lines crossing the intended project area is a vital component of our mine plan and our preparations as we move closer to making Ewoyaa shovel-ready.”
“I would like to express my gratitude to GRIDCo for managing this task on the company’s behalf, as well as to the EPA for their prompt approval, which ensures we can maintain our strong project momentum as we move closer to the construction phase.
“At Ewoyaa, we consider ourselves extremely fortunate to capitalize on Ghana’s robust existing infrastructure and the wealth of expertise developed over more than a century of mining activities in the country.
We believe these factors significantly contribute to positioning our project as one of the premier hard rock spodumene assets on a global scale.”
The definitive feasibility study (DFS) conducted on the Ewoyaa project estimated a capital cost of $185 million, based on a production of 3.6 million tonnes of spodumene concentrate over a mine life of 12 years.
The DFS also projected a post-tax net present value of $1.5 billion, a free cash flow of $2.4 billion, and total lifetime revenues of $6.6 billion.
The study also projected C1 cash operating costs at $377 per ton of concentrate free-on-board, accounting for by-product credits from conventional open-cut mining, and an all-in sustaining cost of $610 per ton.
Atlantic is presently awaiting the issuance of a mining license, which is essential for advancing the project toward the construction phase.
