Atlantic Lithium is pursuing a revision of the fiscal terms governing its flagship Ewoyaa Lithium Project, citing sharp declines in global lithium prices since the original agreement was signed in October 2023.
The request comes as Ghana’s Parliament prepares to ratify the final stage of the company’s mining lease.
Discussions are currently underway with Ghanaian authorities to realign the project’s financial framework with current market realities, with the aim of protecting long-term value for both the country and investors.
Addressing Parliament on July 16, 2025, Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, confirmed that Cabinet had approved negotiations to adjust the fiscal terms of the lease before it proceeds to final ratification.
He emphasized the project's strategic importance, particularly in creating jobs and driving economic growth in the Central Region.
“We are seeking terms that reflect prevailing market conditions and that ensure the Project can deliver value for shareholders and the generational benefits that Ewoyaa promises for Ghana and Ghanaians, including significant job creation and socio-economic development,” said Atlantic Lithium CEO, Keith Muller.
The company has already secured all key regulatory approvals, including permits from the Environmental Protection Agency (EPA) and a Mine Operating Permit. Once the lease is ratified by Parliament, Atlantic Lithium is expected to proceed with financing and full-scale development, making Ewoyaa Ghana’s first lithium-producing mine.
Located within a spodumene-rich deposit, the Ewoyaa Project is a key component of Ghana’s emerging strategy to position itself as a major player in the green minerals sector. The initiative aligns with President John Mahama’s broader economic agenda, which emphasizes job creation, value addition to raw materials, and strategic resource development.
Atlantic Lithium has also reported strong local support for the project from stakeholders within the catchment area.
“We remain actively engaged in discussions with relevant stakeholders in Ghana to consider a revision of the fiscal terms of the Ewoyaa Mining Lease that were initially agreed in October 2023,” Muller added.
“We welcome the recent comments by the Hon. Minister of Lands and Natural Resources regarding the project’s progress and continued national relevance.”
