In Accra, Australian mining firm Atlantic Lithium Ltd. has urgently requested fiscal concessions from the Ghanaian government, warning that its flagship Ewoyaa lithium project, destined to be Ghana's first lithium mine and a cornerstone of its strategy to capitalize on the electric vehicle revolution, is no longer viable under current terms.
This appeal casts serious doubt on the project's future, following a catastrophic collapse in global lithium prices.
The metal, essential for EV batteries, has plunged more than 80% from its late 2022 peak, driven by a worldwide supply glut and slower-than-expected growth in electric vehicle demand.
Atlantic Lithium’s General Manager, Ahmed-Salim Adam, emphasized the urgency in an interview with Reuters: "We have done the maths, and it doesn't make sense at all. We have written to the minister of lands and natural resources for urgent help on the fiscals. If not, the project cannot proceed."
The Ewoyaa lithium project in Ghana, with an estimated 35–40 million tonnes of lithium-bearing ore, could rank among the world’s top ten producers of spodumene concentrate. Read more...
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