CHAMBER OF MINES CALLS FOR SWIFT PARLIAMENTARY APPROVAL OF EWOYAA LITHIUM LEASE

The Ghana Chamber of Mines is pressing Parliament to promptly ratify the minning lease granted to Atlantic Lithium Limited for the Ewoyaa Lithium Project. The Chamber warns that continued delays could jeopardize the company's investment and negatively affect various stakeholders.

Atlantic Lithium has reportedly invested around $70 million in the project since 2016. Located in Ghana's Central Region, the Ewoyaa project is poised to be the country's first lithium mine and has the potential to place Ghana among the world's top spodumene concentrate producers-a major source of lithium.

However, the recent slump in global lithium prices-dropping over 80% from their 2022 peak-has raised concerns about the project's viability.The Acting CEO of the Ghana Chamber of Mines, Ahmed Dasana Nantogmah, emphasized the need for immediate parliamentary action. He revealed that the company has already begun laying off staff, and key contracts are in limbo pending ratification.

The mining lease, granted in October 2023, allows for lithium extraction across 42.63 square kilometers and includes provisions such as a 13% free carried interest for the government and a 10% royalty rate, in line with Ghana's Green Minerals Policy. Additionally, the Minerals Income Investment Fund intends to acquire a 6% stake in the project and 3.06% in Atlantic Lithium Ltd.

Despite the lease and a mine operating permit being issued, operations cannot begin without Parliaments approval.The Chamber underscores that timely ratification is vital not only for economic gains but also to uphold investor confidence in Ghana's minning sector.