Atlantic Lithium Limited (AIM: ALL | ASX: A11 | OTCQX: ALLIF) has received approval from the Ghana Stock Exchange’s Listing Commitee and Ghana’s Securities and Exchange Commission to list the company’s ordinary shares by introduction on the main market of the GSE.
As the country’s first near-term lithium producer to list on the GSE, the company believes that Admission to trading reflects Ghana’s pioneering approach to establishing a route to the long-term supply of lithium to support the electrification transition and to meet global climate change objectives.
Atlantic Lithium is a responsible, modern mining company, advancing its flagship project, the Ewoyaa Lithium Project, a globally significant hard rock spodumene deposit in Ghana’s Central Region, towards production as the country’s first lithium mine. According to the June 2023 Definitive Feasibility Study for the Project, Ewoyaa is expected to produce a steady state of 365,000t of spodumene concentrate per annum, making it one of the largest spodumene mines in the world.
On 20 October 2023, the company announced that Ghana’s Minister of Lands and Natural Resources had granted a mining lease in respect of the project, comprising the proposed Ewoyaa Lithium Mine and processing plant, enabling the advancement of the project towards commercial production. The company welcomed Ghana’s mineral sovereign wealth fund as a new major, strategic shareholder on 24 January 2024 following a US$5M investment in Atlantic Lithium by way of a share subscription.
The investment, which formed the first stage of MIIF’s proposed total US$32.9M investment in the company and its Ghanaian Subsidiaries, demonstrates the Ghanaian government’s significant support for the advancement of the project. In line with the second stage of the strategic investment, subject to the company reaching a binding agreement with MIIF, MIIF has agreed to invest a further US$27.9M in the company’s Ghanaian subsidiaries that hold the company’s lithium interests in Ghana, to acquire a 6% contributing interest.
To read more about this, please visit www.atlanticlithium.com.au
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