Ewoyaa lithium project, Ghana – update

13th October 2023 By: Sheila Barradas - Creamer Media Research Coordinator & Senior Deputy Editor

Ewoyaa lithium project, Ghana – update

Photo by: Atlantic Minerals

Name of the Project
Ewoyaa lithium project.


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 1.22% lithium oxide. Total mineral resources are estimated at 35.3-million tonnes grading 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

Planned Start/End Date
Production of spodumene concentrate and secondary product are targeted for the second quarter of 2025.

Latest Developments
Ghana’s Environmental Protection Agency (EPA) has granted lithium developer Atlantic Lithium authorisation to divert two transmission lines that run across the planned mining areas that hold the company’s Ewoyaa lithium project.

The planned diversion forms part of the project’s mine plan and represents an important step as the company advances Ewoyaa towards shovel readiness.

The EPA approval has been granted until March 2025, enabling the Ghana Grid Company to conduct the diversion of the lines on behalf of Atlantic, which, in turn, is awaiting the grant of a mining licence required to advance the project towards construction.

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.