Atlantic Lithium intensifies engagement with fund providers for Ewoyaa project

Atlantic Lithium, the Africa-focused lithium exploration and development company targeting the delivery of Ghana’s first lithium mine is making significant strides towards securing funding for the development of its flagship Ewoyaa Lithium Project in Ghana.

This is contained in the company’s interim result for  the half-year period ended 31 December 2024.

With all major regulatory approvals in place, the Company is now focused on engaging financial partners to ensure the successful transition from planning to construction.

Regulatory Milestones Strengthening Investment Confidence

The Company recently obtained critical permits, including the Mine Operating Permit from the Minerals Commission of Ghana, a Land Use Certificate from the Spatial Planning Committee of the Mfantseman Municipal Assembly, and an Environmental Permit from Ghana’s Environmental Protection Agency (EPA).

Additionally, a Water Use Permit was awarded post-period end, further cementing the project’s readiness for development. These approvals serve as key risk mitigators for potential investors, underscoring the project’s viability and regulatory compliance.

Strategic Funding Engagements Underway

With the final step in the permitting process—ratification of the Ewoyaa Mining Lease—pending parliamentary approval, Atlantic Lithium is actively engaging with various funding providers.

The Company is exploring multiple financing options, including strategic partnerships, debt financing, and equity investment, to secure the necessary capital for construction and operationalization.

Despite current subdued spodumene concentrate prices, the long-term outlook for lithium remains strong due to rising global demand driven by the electric vehicle and renewable energy sectors. This growing demand is expected to support a favorable funding environment as financial institutions and industry stakeholders seek opportunities in the critical minerals sector.

Optimizing Project Economics for Investment Appeal

In parallel with funding discussions, the Company has been optimizing the engineering and design of the Ewoyaa Lithium Project, initially established in the Definitive Feasibility Study (DFS). These refinements aim to enhance operational efficiency and economic viability, further strengthening the project’s investment case.

Neil Herbert, Executive Chairman of Atlantic Lithium, commented, “We are actively engaging funding providers to secure the necessary financing for the Ewoyaa Lithium Project. While current spodumene prices remain subdued, lithium demand continues to grow significantly, and we expect prices to rise over the estimated period of plant construction. With all major permits secured, we are confident that funding discussions will progress positively.”

As Atlantic Lithium advances towards a Final Investment Decision (FID), the Company remains committed to delivering a world-class lithium project in Ghana, positioning Ewoyaa as a cornerstone of the country’s mining sector and a key player in the global lithium supply chain.

Source: ghextractive.com