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Atlantic Lithium is optimistic of employing about 900 workers when full production commences at its Ewoyaa project in the Central Region of Ghana.<\/p>\n
Lithium is one of the main minerals used in the production of lithium-ion batteries, which is being promoted as a substitute for fossil fuels, as the world continues to battle with climate change.<\/p>\n
The Australia-based Atlantic Lithium on Thursday (19 October) secured a 15-year mining lease from the government of Ghana after meeting all the necessaryrequirements.<\/p>\n
Speaking in an exclusive interview with ghectractives.com, Country Manager of Atlantic Lithium, Abdul-Razak Shaibu Ballah was optimistic the employment will boost the local economy.<\/p>\n
\u201cThe project will directly employ about 800 people and after the construction of the plant we are looking at 900 jobs.\u201d<\/p>\n
\u201cCurrently we have about 75 workers, aside that we do also engage casual workers, so at a point we can employ about 200 casual workers aside the direct employment,\u201d he said.<\/p>\n
Listen to Abdul Razak in the attached audio clip below:\u00a0<\/p>\n
The Company\u2019s flagship project, the\u00a0Ewoyaa Lithium Project, set to be Ghana\u2019s first lithium-producing mine, is being advanced to production under an agreement with Piedmont Lithium.<\/p>\n
The project is well located to excellent infrastructure and is proven to produce a spodumene concentrate product suitable for conversion to be used in EV batteries.<\/p>\n
In June 2023, the Company announced its Definitive Feasibility Study (\u201cDFS\u201d) for the Ewoyaa Project, confirming the Project\u2019s economic viability and profitability potential.<\/p>\n
The Study indicates a 3.6Mt spodumene concentrate production over a 12-year Life of Mine (\u201cLOM\u201d), generating exceptional economics:<\/p>\n
Post-tax NPV\u2088 of US$1.5bn<\/p>\n
Free cash flow of US$2.4bn from LOM revenues of US$6.6bn<\/p>\n
Average LOM EBITDA of US$316m per annum<\/p>\n
IRR of 105%<\/p>\n
Short payback of 19 months<\/p>\n
The DFS incorporates the Project\u2019s 35.3Mt @ 1.25 Li\u2082O Mineral Resource Estimate and Ore Reserves of 25.6Mt @ 1.22% Li\u2082O and considers conservative LOM concentrate pricing of US$1,587\/t, FOB Ghana Port.<\/p>\n
Reporting by Fred Dzakpata in Accra<\/p>\n
Source: Peacefmonline.com<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n
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