Name of the Project
Ewoyaa lithium project.

Location
Ghana.

Project Owner/s
Atlantic Minerals. Piedmont has an earn-in right to 50% of Atlantic’s Ghanaian projects, including Ewoyaa, and the company holds a 10% equity interest in Atlantic Lithium.

Project Description
The project includes the Ewoyaa, Ewoyaa Northeast, Abonko, Anokyi, Grasscutter, Kaampakrom, Bypass, Sill and Okwesi deposits.

An updated scoping study, published in December 2021, has retained the business case for a two-million-tonne-a-year lithium operation at the project.

The updated study has increased the project’s LoM operations to more than 11 years, producing an average 300 000 t/y of 6% lithium oxide spodumene concentrate.

In addition to spodumene production, the study has incorporated two additional revenue streams – a saleable direct shipping ore fines product and a saleable feldspar by-product.

The project proposes a contract mining operation, semimobile contract crushing facility and fixed conventional dense-media separation processing facility for spodumene concentration.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $789-million and an internal rate of return of 194%, with a payback of less than a year.

Capital Expenditure
$70-million.

Planned Start/End Date
Not stated.

Latest Developments
The resource estimate for the Ewoyaa lithium project has increased by 42%.

The resource now stands at 30.1-million tonnes at 1.26% lithium oxide.

JV partner Piedmont previously revealed the feasibility studies for Ewoyaa were due in 2022, with first production possible by 2024.

Key Contracts, Suppliers and Consultants
Ashmore Advisory (resource modelling); Mining Focus Consultants (pit optimisation and mine scheduling); NAGROM (beneficiation testwork); ANSTO (conversion testwork); Trinol (process interpretation and design); Zivvo and Trinol (operating and capital costs, and cash flow modelling); Primero (site layouts); and First Test Minerals (industrial mineral marketing).

Contact Details for Project Information
Atlantic Minerals, tel +61 2 8072 0640 or email info@atlanticlithium.com.au.