Atlantic Lithium (ASX:A11) still bullish on Ghana mine delivery

Atlantic Lithium remains confident about obtaining a lease for a lithium mine in Ghana despite a curveball thrown by the country’s government regarding royalties and state-owned interest in the project.

The Company is on track to deliver the Ewoyaa Lithium Project, Ghana’s first lithium mine.

Atlantic Lithium is discussing the new green minerals policy with Ghana’s Minerals Commission. They believe they will be granted the Mining Lease needed to move the project forward.

Piedmont Lithium (PLL.O) invested $100 million in Atlantic Lithium in 2011 to secure high-purity lithium ore (spodumene) from the Company’s Ghana mine. 

The plan is to supply this lithium to electric vehicle maker Tesla (TSLA.O), relying on the lithium obtained from Atlantic Lithium’s Ghana operations. 

Earlier this year, Blue Orca Capital claimed that Atlantic Lithium obtained essential mining licenses in Ghana through secret payments. However, Atlantic Lithium has vehemently denied these allegations.

In a statement made on the Australian Stock Exchange today, the Company acknowledged comments made by Ghana’s Minister for Lands and Natural Resources, Hon. Samuel A. Jinapor, which relate to potential implications for mining companies from introducing the new policy, including changes to the mining royalty rate and the state’s interest in minerals projects.

“The Company confirms that it has been in regular discussion with Ghana’s Minerals Commission, which is responsible for the determination and application of legislation within the mining sector, concerning establishing a framework that is attractive for companies aiming to extract Ghana’s natural resources while also ensuring maximum value is delivered to Ghana and Ghanaians.” the statement said.

“Atlantic Lithium cannot disclose the nature of these discussions at this stage and will update the market with any developments when appropriate.”

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.