News Guide Africa

Tag: Ewoyaa Lithium

  • Global lithium prices collapse prompts gov’t to reassess Ewoyaa Lithium project

    Global lithium prices collapse prompts gov’t to reassess Ewoyaa Lithium project

    The Ghanaian government is set to revisit the terms of the Ewoyaa Lithium Agreement following a dramatic fall in global lithium prices, which has cast doubt on the viability of the project.

    During a parliamentary session on Wednesday last week, Minister for Lands and Natural Resources, Emmanuel Amarh Kofi Buah, revealed that the sharp decline in lithium prices once around US$3,000 per tonne has significantly impacted the project’s prospects.

    Currently, market prices have fallen below US$675 per tonne, which is the estimated production cost for the lithium concentrate according to the company’s feasibility report.

    The Minister explained that this price collapse has caused major lithium producers worldwide to cut production, lay off workers, and postpone new projects, including Ghana’s own Ewoyaa Lithium operation.

    In response, Barari DV Ghana Limited, the mining company granted a 15-year lease in October 2023 covering 42.63 square kilometers at Mankessim in the Central Region, has requested a revision of lease terms to prevent the project’s collapse.

    The lease was submitted to Parliament in 2024 and considered by the Select Committee on Lands and Natural Resources. However, parliamentary ratification was delayed due to the adjournment for the 2024 general elections.

    Now, faced with the challenging market conditions, the government has been apprised of the company’s request and is preparing to present a revised proposal to the Cabinet.

    Minister Buah emphasized that the Ministry has already notified Cabinet and will soon submit a new memo outlining the proposed adjustments.

    The goal is to find a sustainable pathway forward that safeguards the project and Ghana’s stake in the rapidly evolving battery metals industry.

  • Atlantic Lithium granted mine operating permit for Ewoyaa Lithium Project

    Ghana’s mineral commission

    Ghana’s Minerals Commission has awarded Atlantic Lithium a mine operating permit for its flagship Ewoyaa Lithium Project in Ghana’s Central Region.

     

    This permit represents the final regulatory approval needed before the company can begin construction of the project, which includes both the Ewoyaa lithium and the processing plant.

     

    Mr Neil Herbert, executive chairman of Atlantic Lithium, described the permit’s issuance as a significant milestone in the permitting process.

     

    “This marks a critical step for the Ewoyaa Lithium Project and is the final regulatory approval we need to commence construction,” he said.

     

    Mr Herbert also expressed anticipation for the parliamentary ratification of the Ewoyaa mining lease, which is expected during the upcoming parliamentary session resuming on October 15.

     

    “With our sights set on achieving first production of lithium in Ghana, we hope the ratification can occur soon, paving the way for the construction and operation of this globally significant lithium project,” he added.

     

    Atlantic Lithium, focused on lithium exploration and development in Africa, aims to deliver Ghana’s first lithium mine as it awaits the necessary parliamentary approval.