Atlantic, Piedmont granted operating permit for Ewoyaa Lithium Project
Atlantic Lithium has been granted the operating permit, a greenlight for gearing up to construct Ghana’s first lithium mine at its flagship Ewoyaa lithium project.
The operating permit marks was the last major regulatory hurdle, allowing the company to move forward with building the mine and processing plant. A final investment decision hinges on the ratification of the 15-year mining permit by Ghana’s parliament, which is expected to reconvene on this month.
Ewoyaa Lithium Project
The Ewoyaa Lithium Project is situated in the Cape Coast region of Ghana, approximately 100 kilometers southwest of the capital, Accra, and near the port of Takoradi, providing an advantageous logistical position for export. Ewoyaa is known for its high-grade spodumene lithium deposit, which is a primary source of lithium for battery production, particularly for electric vehicles (EVs) and energy storage systems.
The project, developed in partnership with Piedmont Lithium (NASDAQ: PLL; ASX: PLL), is a significant step for both companies. Piedmont is funding nearly 70% of the $185 million development costs, as outlined in a 2023 feasibility study, and holds a 22.5% stake in Atlantic Lithium’s Ghanaian projects. Piedmont also has an option to earn 50% of the project, with half of the mine’s lithium production earmarked for their refinery.
Ewoyaa is set to produce 3.6 million tonnes of spodumene concentrate over 12 years, or around 350,000 tonnes annually, positioning it as one of the world’s top 10 lithium projects. Atlantic Lithium is hopeful that construction can begin before the end of 2024.
