Atlantic Lithium says it remains optimistic that Parliament will soon approve the revised mining lease for its Ewoyaa Lithium Project, stressing that the ratification is critical to Ghana’s interests as well as the company’s long-term growth.
Speaking at the firm’s 2025 Annual General Meeting, held virtually on Thursday, the Chairman noted that Atlantic Lithium has spent the past year positioning itself for value creation despite the prolonged wait for parliamentary approval and continued instability in global lithium markets.
He reiterated that “the fundamentals for lithium remain robust, underpinned by electric vehicle growth and energy storage demand,” adding that Ewoyaa continues to present a competitive, near-term development opportunity for the company.
The company recently concluded fresh fiscal terms with the Government of Ghana that align with current market realities and support the project’s economic viability. The revised lease has already been forwarded to Parliament and is now before the Select Committee for assessment. “We remain confident that ratification will follow soon, recognising the Project’s strategic importance to both Ghana and the Central Region,” the Chairman told investors.
To strengthen its financial position as it awaits the legislative green light, Atlantic Lithium has also secured two funding arrangements with Long State Investments Ltd, granting access to as much as £28 million over two years. The Chairman described the facility as flexible and designed to minimise shareholder dilution while maintaining momentum on project development. He added that Long State’s support represents “a strong endorsement of both our strategy and the Project’s potential.”
The AGM report outlined efficiency measures implemented in response to falling lithium prices, including salary reductions at leadership level, cost-saving initiatives and team restructuring in Ghana and Australia. Nevertheless, Atlantic Lithium said its exploration efforts beyond Ghana continue to show promise. Early work at the Agboville and Rubino licences in Côte d’Ivoire has produced “encouraging results” indicating strong lithium prospects.
With global electrification expected to accelerate, the company reiterated that Ewoyaa has the potential to elevate Ghana into a new player within the international lithium supply chain. The project already has a mining lease issued in 2023, an EPA approval secured in 2024, and a Mine Operating Permit. Once Parliament gives its final approval, Atlantic Lithium says it is ready to fast-track development.
“The resilience of our team has been exceptional through challenging conditions,” the Chairman added. “With Mining Lease ratification expected soon, we look ahead to a promising 2026 and beyond.”
Source: Graphic Online
