Name of the Project
Ewoyaa lithium project.

Location
Ghana.

Project Owner/s
Aim-listed lithium explorer and developer Atlantic Minerals. Piedmont has an earn-in right of 50% of Atlantic’s Ghanaian projects, including Ewoyaa, and the company holds a 10% equity interest in lithium explorer Atlantic Lithium.

Project Description
Over the 12-year life-of-mine (LoM), the project is expected to produce 3.58-million tonnes a year of 6% and 5.5% spodumene concentrate, as well as 4.7-million tonnes of secondary product as a by-product of dense-media separation (DMS).

Development involves the opencut mining of several lithium-bearing pegmatite deposits, conventional DMS processing and supporting infrastructure.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $1.5-billion and an internal rate of return of 105%, with a payback of 19 months.

Capital Expenditure
$185-million.

Planned Start/End Date
Production of spodumene concentrate and secondary product are targeted for the second quarter of 2025.

Latest Developments
Atlantic Lithium has welcomed Ghana’s sovereign minerals wealth fund the Minerals Income Investment Fund (MIIF) onto its shareholder register following the completion of the MIIF’s $5-million subscription.

This is part of the MIIF’s total $32.9-million strategic investment to support the development of the Ewoyaa lithium project and the broader Cape Coast lithium portfolio, in Ghana, towards production.

The investment is expected to enhance the company’s cash balance and contribute towards project development expenditure, reducing its share of the total $185-million development expenditure further derisking the advancement of the project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Atlantic Minerals, tel +61 2 8072 0640 or email info@atlanticlithium.com.au.