Photo by: Atlantic Minerals
Name of the Project
Ewoyaa lithium project.
Location
Ghana.
Project Owner/s
Aim-listed lithium explorer and developer Atlantic Minerals. Piedmont has an earn-in right of 50% of Atlantic’s Ghanaian projects, including Ewoyaa, and the company holds a 10% equity interest in lithium explorer Atlantic Lithium.
Project Description
Ewoyaa has probable reserves of 25.6-million tonnes grading at 1.22% lithium oxide. Total mineral resources are estimated at 35.3-million tonnes grading at 1.25% lithium oxide.
Over the 12-year life-of-mine, the project is expected to produce 3.58-million tonnes a year of 6% and 5.5% spodumene concentrate, as well as 4.7-million tonnes of secondary product as a by-product of dense-media separation (DMS).
Development involves the opencut mining of several lithium-bearing pegmatite deposits, conventional DMS processing and supporting infrastructure.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $1.5-billion and an internal rate of return of 105%, with a payback of 19 months.
Capital Expenditure
$185-million.
Planned Start/End Date
Production of spodumene concentrate and secondary product is targeted for the second quarter of 2025.
Latest Developments
Piedmont Lithium plans to use proceeds from the sale of lithium concentrate from its offtake agreement with North American Lithium (NAL) to fund further investment in the project.
Piedmont has exercised its option to acquire an initial 22.5% in Atlantic Lithium’s Ghana portfolio, having sole-funded $5-million towards a regional exploration programme, and a further $12-million towards the delivery of a prefeasibility study and definitive feasibility study (DFS).
Piedmont will now self-fund a further $70-million to earn an additional 27.5% interest in the Ghana portfolio, taking its total interest to 50%.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Atlantic Minerals, tel +61 2 8072 0640 or email info@atlanticlithium.com.au.