Atlantic Lithium Limited, the company developing Ghana’s first lithium mine, is moving steadily toward a key milestone as its revised Ewoyaa Mining Lease awaits parliamentary review in the New Year. The company confirmed that the revised lease has been submitted to Ghana’s Parliament and referred to the Select Committee, the body responsible for reviewing mining agreements before formal ratification.
The revised Mining Lease incorporates fiscal terms aligned with Ghana’s current mining code, including updated royalty rates and the Growth and Sustainability Levy. These adjustments came after consultations by the Minister of Lands and Natural Resources with stakeholders, supported by Atlantic Lithium, to ensure the project complies with national regulations while remaining economically viable.
Under the new Legislative Instrument, lithium projects will follow a sliding royalty scale depending on spodumene prices, with rates ranging from 5% to 12%. Atlantic Lithium has noted that while all other fiscal terms from the original lease remain unchanged, the parliamentary process could still introduce modifications.
After the festive recess, the Select Committee is expected to begin its review of the revised lease early in the New Year. Atlantic Lithium expressed confidence that the lease will receive ratification in due course, though the company reminded shareholders that final approval is subject to parliamentary discretion.
“Submitting the revised Mining Lease represents a critical step forward for the Ewoyaa project,” said Keith Muller, Chief Executive Officer of Atlantic Lithium. “We are confident that the parliamentary process will recognize the strategic value of Ghana’s first lithium mine.”
Amanda Harsas, Finance Director and Company Secretary, added, “While there are always uncertainties in legislative processes, we remain committed to engaging with authorities to ensure the lease aligns with Ghana’s mining framework and benefits all stakeholders.”
The Ewoyaa Lithium Project, located in Ghana, has already secured several critical permits, including the Environmental Protection Authority Permit in September 2024 and a Mine Operating Permit in October 2024. Once operational, the project is set to make Ghana a notable player in the global lithium market, a resource critical to the production of batteries for electric vehicles and renewable energy storage.
Atlantic Lithium continues to develop the project under an earn-in agreement with Elevra Lithium Limited and maintains a portfolio of highly prospective lithium licenses across Ghana and Côte d’Ivoire. The company has committed to keeping shareholders informed as the parliamentary review progresses.
With the new year approaching, all eyes will be on Ghana’s Parliament and the Select Committee’s recommendations, which will determine whether the Ewoyaa Mining Lease moves one step closer to full ratification and production.
