Atlantic Lithium Limited (A11), an Africa-focused lithium exploration and development company aiming to deliver Ghana’s first lithium mine, has provided an update on the Mining Lease for its Ewoyaa Lithium Project. A revised Mining Lease has been submitted to the Parliament of Ghana and referred to the Select Committee for ratification, following standard procedure. The Mining Lease incorporates fiscal terms resulting from consultations between the Minister of Lands and Natural Resources and relevant stakeholders regarding Ghana’s mining code and royalty applications, supported by the Company.
The revised terms align the Project’s royalty rate and Growth and Sustainability Levy with current legislated rates in Ghana. A new Legislative Instrument, Minerals and Mining (Royalty) Regulations, 2025, has been submitted to Parliament, outlining a proposed sliding scale for lithium project royalty rates based on spodumene prices. The royalty rates range from 5.0% for spodumene prices up to US$1,500/tonne to 12.0% for prices above US$3,000/tonne. All other fiscal terms outlined in the Mining Lease granted in October 2023 remain unchanged.
Following Parliament’s adjournment for the festive period, the Select Committee will review the revised Mining Lease in the new year before providing its recommendation to Parliament for ratification. The company remains confident that ratification will occur according to due parliamentary process. However, shareholders are advised that there is no certainty that the proposed terms of the Legislative Instrument will not change or that Parliament will ratify the Mining Lease.
Atlantic Lithium will continue to update shareholders as appropriate. Atlantic Lithium is an AIM, ASX and GSE-listed lithium company advancing its flagship project, the Ewoyaa Lithium Project, a lithium spodumene pegmatite discovery in Ghana, through to production to become the country’s first lithium-producing mine.
