Atlantic Lithium welcomes cabinet authorisation of revised fiscal terms for Ewoyaa project
Atlantic Lithium Limited, the Australia-based, Africa-focused lithium developer, says it remains confident of securing final parliamentary ratification for its Ewoyaa Lithium Project in Ghana.
This follows confirmation from the Minister for Lands and Natural Resources that the revised terms of the project’s Mining Lease are currently under review.
Speaking during a parliamentary session on Wednesday, July 16, 2025, the MP for Ellembele, Emmanuel Armah-Kofi Buah, disclosed that Cabinet had authorised a renegotiation of the lease terms, which will subsequently be presented to both Cabinet and Parliament for approval.
The announcement marks a critical step toward the completion of the project’s permitting phase, which Atlantic Lithium says will unlock access to financing and the construction of Ghana’s first lithium mine.
Granted in October 2023 during a period of elevated global lithium prices, the original Mining Lease is now being reassessed following a sharp decline in lithium prices over the past year.
Atlantic Lithium has since been in discussions with Ghanaian authorities to revise the fiscal terms of the lease to reflect current market conditions.
The company maintains that a balanced agreement is necessary to ensure the project delivers long-term value to both shareholders and the Ghanaian economy.
The CEO of Atlantic Lithium stated, “We remain actively engaged in discussions with relevant stakeholders in Ghana to consider a revision of the fiscal terms of the Ewoyaa Mining Lease that were initially agreed in October 2023.”
“Having seen a significant shift in the lithium price environment since the Mining Lease was granted, we are seeking terms that reflect prevailing market conditions and that ensure the Project can deliver value for shareholders and the generational benefits that Ewoyaa promises for Ghana and Ghanaians.”
SP/MA
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