Ghana’s Mining Bigwigs Rally Behind Atlantic Lithium: ‘Let’s Talk Terms Before the Boom Busts

Editorial Summary: As global lithium prices tumble, threatening the viability of Ghana’s flagship Ewoyaa project, the Ghana Chamber of Mines has thrown its weight behind Atlantic Lithium’s call for a fiscal rethink. With production costs nearing market prices, the Chamber advocates for prudent dialogue to ensure the project doesn’t stall before it starts. This alliance underscores a shared urgency: adapt the fiscal framework now or risk missing out on Ghana’s lithium-powered future.

Detailed News: The Ghana Chamber of Mines has echoed concerns over the fiscal terms of Atlantic Lithium‘s Ewoyaa mining project, citing the need for a review in light of tumbling global lithium prices. Comments made by the Chamber’s Acting CEO, Ahmed Dasana Nantogmah, during an interview with Accra Street Journal- News, align closely with Atlantic Lithium’s ongoing discussions with the government for concessions that reflect current market realities.

“When you look at the concessions under the deal, the precious price concessions were different. Now the prices have fallen. They have to look at it,” Nantogmah said.

His remarks come as Atlantic Lithium seeks to adjust the fiscal framework for its Ewoyaa project, Ghana’s first lithium-producing mine, following an 80% drop in lithium prices since their peak in November 2022. The company has been in active talks with government representatives to address the financial implications of this downturn.

Nantogmah also drew attention to the real-time impact of the delays. “Recently, Atlantic Lithium had to lay off staff because of the delay, so you can understand the repercussions,” he explained. “Any contracts that were signed while awaiting ratification may now have to be abrogated or renegotiated.”

He further noted the broader consequences of stalled progress: “The impact is significant across the entire value chain, for stakeholders, companies, and even communities that were anticipating income and employment opportunities. These benefits will remain stalled until the deal is ratified in a way that is both economically and socially sustainable.”

Meanwhile, Atlantic Lithium’s Executive Chairman, Neil Herbert, reaffirmed the company’s commitment to the project, stating: “We are dedicated to working in a spirit of partnership with the Government of Ghana and our host communities to ensure Ewoyaa becomes a flagship project for the country and the region.”

“While current lithium prices present headwinds, we believe that through collaboration and prudent fiscal measures, we can advance Ewoyaa to production and deliver lasting value for all stakeholders.”

Last Updated on April 30, 2025 by samboad