The agreement, which has been under review for some time (as reported previously in our newsletter), includes new licensing conditions adjusted to current market prices.
If approved by parliament, the start of Ghana’s first commercial lithium mining operation will be imminent.
Atlantic Lithium, the Australian company set to receive the license, announced that the revised mining agreement for the Ewoyaa project has been submitted to the relevant parliamentary committee. The agreement grants the company exclusive rights to mine lithium in the Mankessim area of the Central Region for a period of 15 years, with the option of an extension. The draft contract was revised in coordination with the Ministry of Lands and Natural Resources and aligned with current legal requirements and Ghana’s Mining Code.
One of the key elements of the agreement is a tiered royalty system based on the market price of spodumene, one of the main raw materials used in lithium production. At a price of up to USD 1,500 per tonne, Ghana will receive a royalty of 5 %. This rate increases step by step to 12 % when prices exceed USD 3,000 per tonne. According to those involved, this structure ensures both the economic viability of the project and a fair distribution of revenues.
Following discussions with government representatives, Atlantic Lithium expects that the Parliamentary Committee on Lands, Forestry and Mines will recommend approval of the agreement to parliament after completing its review.