Atlantic Lithium cheers “watershed moment” as Ewoyaa lithium project’s mining lease is ratified
Atlantic Lithium Ltd (AIM:ALL, ASX:A11, OTCID:ALLIF) said Ghana’s Parliament has ratified the mining lease for its Ewoyaa lithium project, handing the developer a key de-risking milestone as it pushes funding talks and works toward a final investment decision on what could become Ghana’s first lithium mine.
The approval gives formal backing to the proposed Ewoyaa mine and processing plant. Atlantic said the ratified lease allows it to advance discussions on project financing, with the company framing the move as a major step toward first production of spodumene.
The lease, first granted in October 2023, gives Atlantic exclusive rights to mine and produce commercially across the project area for an initial 15-year period, renewable under Ghanaian law. Revised fiscal terms bring the royalty rate and Growth and Sustainability Levy into line with current legislation, with a new sliding royalty scale now legally binding for lithium projects in Ghana.
Chief executive Keith Muller called the vote a “watershed moment” for both the company and Ghana.
“We are delighted to have the full support of the Government as we work towards achieving first production of spodumene. Having already built itself to become a leading gold producer, Ghana has now taken a major step towards a new lithium future,” Keith Muller said.
He added: “We now look to the various milestones ahead of us with excitement as we pursue the path to production.
“To this end, shortly, we intend to provide further clarity on the outcomes of the work we completed through H2 2025 to enhance the viability of the project through ongoing commodity price volatility. This work will help define the direction of the project’s development and inform the steps to be taken ahead of a project final investment decision.”
Atlantic Lithium also said it expects to provide further detail shortly on work completed in the second half of 2025 to improve Ewoyaa’s economics amid continued lithium price volatility, helping shape the next steps ahead of a final investment decision.
