Atlantic Lithium Supports Ghana’s Move to Review Ewoyaa Mining Lease Terms Amid Changing Lithium Market
AIM-listed Atlantic Lithium has welcomed comments made during a Ghanaian Parliamentary session on July 16, where Minister of Lands and Natural Resources Emmanuel Armah-Kofi Buah confirmed that Ghana’s Cabinet has authorised a review of the terms of the company’s Ewoyaa lithium project mining lease.
The revised terms will be negotiated and submitted for Cabinet and Parliamentary approval as part of the final ratification process.
The Minister emphasized the job creation potential and broad local support for the Ewoyaa project, which is located in Ghana’s Central Region.
He noted the economic benefits expected from the project and acknowledged the strong backing of residents in the project’s catchment area.
Atlantic Lithium highlighted that spodumene concentrate production from Ewoyaa is poised to significantly contribute to the region’s socioeconomic development and provide substantial employment opportunities for Ghanaians.
The company added that this aligns with national development goals expressed by President John Mahama during his December 2024 election campaign.
The mining lease for Ewoyaa was initially granted by Ghana’s Ministry of Lands and Natural Resources in October 2023, during a period of elevated global lithium prices.
Since then, however, lithium prices have declined considerably, prompting Atlantic Lithium to begin discussions with stakeholders—including government officials—on adjusting the fiscal terms of the lease to reflect current market conditions.
“Having seen a significant shift in the lithium price environment since the mining lease was granted, we are seeking terms that reflect prevailing market conditions and that ensure the project can deliver value for shareholders and the generational benefits that Ewoyaa promises for Ghana and Ghanaians,” said CEO Keith Muller.
With all necessary regulatory approvals already in place, parliamentary ratification represents the final step in the permitting process.
Once completed, the company will be positioned to move forward with project financing and further development of the mine.
Atlantic Lithium reaffirmed its ongoing engagement with Ghanaian stakeholders and its support for the parliamentary review process.
The company remains confident in a positive outcome and pledged to keep shareholders informed as developments unfold.
“We look forward to providing further updates in due course,” Muller added.
About the Author
