Atlantic Lithium Ltd said it is ‘engaging with various funding providers’ for its Ewoyaa Lithium Project after passing key milestones in the permitting process. The company now holds all the approvals needed to begin construction, including a Mine Operating Permit from Ghana’s Minerals Commission.
Ewoyaa, set to be Ghana’s first lithium mine, is awaiting final ratification of its Mining Lease before reaching the crucial Final Investment Decision. Executive Chairman Neil Herbert said the company is confident this will come through soon, following Ghana’s recent elections.
During the reporting period, Atlantic Lithium also secured an environmental permit, a land use certificate, and a water use permit, allowing it to extract water from the Ochi-Amissah River for the project.
Exploration work continued across Ghana and Côte d’Ivoire, with resource estimates upgraded to 36.8 million tonnes of lithium-bearing material. The company also identified high feldspar content, which could be sold to Ghana’s ceramics industry as a by-product.
On the corporate side, Atlantic Lithium raised A$10 million through a share placing led by its largest shareholder, Assore International Holdings. The funds will be used for further project optimisation and refining technical aspects ahead of the investment decision.
Herbert acknowledged weak lithium prices but said demand remains strong, with expectations of higher prices by the time construction is completed. He added that discussions with potential funding providers are ongoing and that further updates will be provided in due course.
The company exited the six months ended December 31 in a strong financial position with A$11.8 million on the balance sheet.
