Atlantic Lithium (ASX:A11) reports it has lodged a mining licence application for the proposed Ewoyaa Lithium Project in Ghana, which if developed will become the country’s first lithium mine.
Atlantic’s majority-owned company Barari DV Ghana, and the wholly owned Green Metals Resources, have lodged initial documents in support of its mining licence application to the Minerals Commission of Ghana (MinCom).
The company reports the application will now be assessed by the Ghanian Government as soon as possible, and the application includes the submission of Atlantic’s recent Prefeasibility Study (PFS).
Based on the PFS, Atlantic indicates the life of mine revenue for the project will exceed US$4.84 billion, producing a spodumene concentrate via simple gravity only process flow sheet.
Atlantic has also signed a funding agreement with Piedmont Lithium (ASX:PLL) for US$103 million towards the development of the project.
The company notes this is a ‘significant’ milestone as it moves the Ewoyaa Project from the discovery stage to the delivery of studies.
Atlantic Lithium Interim CEO Lennard Kolff said the company is pleased to have lodged the application for a mining licence at the Ewoyaa Lithium Project, which has a ‘compelling’ case for development at a time of ‘unprecedented’ lithium demand.
“The application marks a significant milestone for the company having completed extensive exploration and technical programs, environmental and social studies, economic studies and the valuation of the project.
“The application marks a significant milestone for the company having completed extensive exploration and technical programs, environmental and social studies, economic studies and the valuation of the project”
As evidenced by our work to date and highlighted by the recent Prefeasibility Study, we can demonstrate a fundamentally robust development case at Ewoyaa, which delivers extensive social and economic benefits to our local communities and the Republic of Ghana.
We are looking forward to working closely with MinCom, the Ministry of Lands and Natural Resources, the EPA, local government authorities, our host communities and other regulatory bodies towards the grant of the Ewoyaa mining licence.
Our ongoing and planned activities now focus on further de-risking the development timelines of the project, rapidly advancing a detailed design and construction phase and ultimately, moving into production whilst continuing to grow our exploration pipeline.”
Atlantic Lithium (formerly IronRidge Resources) is a lithium exploration and development company with a portfolio of lithium projects and licences in West Africa.
The company holds a 560km-square tenure in Ghana, and 774km-square tenure in Cote d’Ivoire, comprising under-explored and ‘highly prospective’ licences.
Its flagship project, the Ewoyaa Project is described as a ‘significant’ lithium spodumene pegmatite discovery on track to become Ghana’s first lithium-producing mine.