Atlantic Lithium (ASX: A11) is set to begin construction of Ghana’s first lithium mine after obtaining the operating permit for its flagship Ewoyaa project. This license represents the final regulatory approval needed for the company to move forward with building the mine and processing plant, marking a significant milestone toward a final investment decision.
The Australian junior miner is currently waiting for Ghana’s parliament to ratify its 15-year mining permit. Lawmakers are expected to reconvene on October 15, and Atlantic Lithium hopes to commence work on the project, its first mine, before the end of the year. Executive Chairman Neil Herber expressed optimism, stating, “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.”
The Ewoyaa project is being developed in partnership with Piedmont Lithium (NASDAQ: PLL; ASX: PLL), which is anticipated to cover nearly 70% of the $185 million development costs detailed in a 2023 feasibility study. Half of the lithium produced at the mine will be sent to a Piedmont refinery. Piedmont holds a 22.5% stake in Atlantic Lithium’s projects in Ghana, including Ewoyaa, and has an option to earn up to 50%.
Atlantic Lithium plans to produce a total of 3.6 million tonnes of spodumene concentrate, averaging 350,000 tonnes annually, over a span of 12 years, which would position it as the world’s 10th-largest lithium project, according to the company.
