13th Oct 2022 10:30
(Alliance News) - Atlantic Lithium Ltd on Thursday said it has reached a significant milestone in the development of its Ewoyaa lithium project after submitting a mining licence application to the Ghanaian government.
Atlantic Lithium is a Sydney-based, Africa-focused lithium exploration and development company, with assets in Ghana and Ivory Coast. Its flagship project is the Ewoyaa site in western Ghana, funded under agreement with Piedmont Lithium Ltd for USD103.0 million.
The company's mining licence application, submitted to the Minerals Commission of Ghana, pertained to the extraction of minerals from Ewoyaa.
Atlantic Lithium said that Barari DV Ghana Ltd and Green Metals Resources Ltd, its majority and wholly-owned companies respectively, have lodged initial documents in support of its claim for mineral extraction at the project.
The application includes the submission of the company's recent pre-feasibility study, will be assessed by the Ghanaian government in due course.
Atlantic Lithium said the application was a significant milestone as it moves the Ewoyaa project from discovery stage to the delivery of studies. Its aim is to develop Ewoyaa as Ghana's first lithium mine.
Interim Chief Executive Officer Lennard Kolff said Atlantic Lithium could demonstrate "a fundamentally robust development case" at Ewoyaa, which would deliver "extensive social and economic benefits to our local communities".
"Our ongoing and planned activities now focus on further de-risking the development timelines of the project, rapidly advancing a detailed design and construction phase and ultimately, moving into production whilst continuing to grow our exploration pipeline," he added.
Atlantic Lithium shares were trading 0.7% higher at 33.24 pence each in London on Thursday morning.
By Holly Beveridge; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Atlantic Lithium