Ghana parliament suspends Ewoyaa lithium lease ratification amid fiscal review
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Ghana’s Parliament suspended review of Atlantic Lithium’s Ewoyaa mining lease on December 11 to enable further consultations on fiscal terms under the mining code and royalty structure. The company affirmed its commitment to securing terms that deliver value for shareholders and local communities.
Atlantic Lithium’s 2023 lease agreement provides Ghana with a 13% free-carried interest and 10% royalty rate. The firm now seeks revisions, including a royalty cut to 5%, following an 80% decline in lithium prices from March 2023 to 2024. Parliament has not specified a timeline or consultation scope.
Ewoyaa envisions production of 3.6 million tonnes of spodumene concentrate over 12 years at a capital cost of $185 million. Ratification remains essential for the final investment decision and construction start.
