Atlantic Lithium Secures Final Permits and A$10m Funding Boost for Ewoyaa Mine

Permitting Milestones Propel Ewoyaa Towards Construction

Atlantic Lithium Limited has achieved significant progress in the development of its flagship Ewoyaa Lithium Project in Ghana, marking a pivotal step towards production. During the December 2024 quarter and into January 2025, the company secured the Mine Operating Permit, Land Use Certificate, and Water Use Permit, the final regulatory approvals required before construction can commence.

These permits collectively de-risk the project by ensuring compliance with Ghanaian mining regulations and environmental standards. The Land Use Certificate, issued by the Mfantseman Municipal Assembly, rezones the mining area for operational use, while the Water Use Permit authorises extraction from the Ochi-Amissah River, a critical resource for processing activities.

Atlantic Lithium now awaits the ratification of the Mining Lease by Ghana’s parliament, a procedural but essential step that will unlock the full development phase. The company expressed confidence in this process following Ghana’s peaceful democratic elections, highlighting the project’s alignment with national economic interests.

Financial Backing and Corporate Developments

To support the transition from permitting to construction, Atlantic Lithium completed a successful A$10 million equity placing led by its largest shareholder, Assore International Holdings Limited. The placing attracted participation from company executives and institutional investors, underscoring strong internal and external confidence in the project’s prospects.

Additionally, the company welcomed the proposed merger of its strategic funding partner Piedmont Lithium with Sayona Mining. The merger is expected to enhance project funding security and operational expertise, with the merged entity committing to sole fund US$70 million towards development expenditure to earn a 50% interest in the project.

Atlantic Lithium’s cash position stood at A$11.8 million at the end of the quarter, with ongoing cost management and funding arrangements in place to sustain development activities.

Resource Expansion and Exploration Progress

Post-quarter, Atlantic Lithium reported an updated JORC-compliant Mineral Resource Estimate for feldspar at Ewoyaa, totaling 36.8 million tonnes at 41.9% feldspar content. This resource update complements the lithium mineral resource and supports the company’s strategy to supply feldspar to Ghana’s ceramics market, potentially lowering operating costs and diversifying revenue streams.

Exploration efforts also continued in Côte d'Ivoire, with extensive soil geochemical sampling completed over the Agboville licence and ongoing surveys at Rubino. These activities aim to identify new lithium targets in a jurisdiction ranked highly for mining investment, expanding Atlantic Lithium’s regional footprint.

Outlook and Strategic Positioning

With the final permits in hand and funding secured, Atlantic Lithium is positioned to advance towards its Final Investment Decision (FID) and construction commencement. The company’s focus now shifts to completing technical refinements, contract preparations, and securing parliamentary approval for the Mining Lease.

The Ewoyaa Project is set to become Ghana’s first lithium mine and one of the world’s largest hard rock spodumene producers, leveraging its strategic location near infrastructure and ports. Atlantic Lithium’s progress reflects a broader trend of expanding lithium supply chains critical to the global battery and electric vehicle markets.