The Parliament of Ghana has ratified Aim-listed Atlantic Lithium’s mining lease for the flagship Ewoyaa project.

The ratification constitutes the Parliament of Ghana's formal approval of the proposed Ewoyaa lithium mine and processing plant, enabling the company to advance discussions relating to project funding and continue its progress towards a final investment decision (FID).

The company explains that the Ewoyaa mining lease is the first to be granted and ratified for the mining of lithium in Ghana, highlighting the government's support of Atlantic Lithium’s production ambitions.

Under the terms of the mining lease, which was initially granted by Ghana's Ministry of Lands and Natural Resources in October 2023, Atlantic Lithium says it has the exclusive rights to carry out mining and commercial production activities over the mining lease area for an initial 15-year period, renewable in accordance with Ghanaian legislation.

The ratified mining lease includes certain fiscal terms which were incorporated following government consultation with relevant in-country stakeholders.

The revised terms comprise the alignment of the project's royalty rate and growth and sustainability levy to current legislated rates in Ghana.

Atlantic Lithium notes that, following the expiration of the 21-sitting-day review period, a new legislative instrument – Minerals and Mining (Royalty) Regulations 2025 – which outlines a sliding scale for royalty rates for lithium projects in Ghana, has become legally binding.

The company explains that all other fiscal terms outlined in the mining lease granted in October 2023 remain unchanged.

It notes that the revised terms are intended to ensure the project generates returns to shareholders, while maximising socioeconomic value for Ghana and Ghanaians, particularly the residents of the project's catchment area communities in the central region, in the context of prevailing lithium market conditions.

Atlantic Lithium CEO Keith Muller describes the Parliamentary ratification of the mining lease for the Ewoyaa lithium project as marking a “watershed moment” for both Ghana and Atlantic Lithium.

"We are delighted to have the full support of the government as we work towards achieving first production of spodumene. Having already built itself to become a leading gold producer, Ghana has now taken a major step towards a new lithium future.

"We are grateful to our stakeholders in Ghana, notably the relevant authorities that have supported the company throughout the project's permitting process, and the residents of our local communities in the central region who have continued to voice their endorsement of the company.

"I would also like to thank every member of our team for their tireless, collective effort, which has resulted in this achievement. It is not lost on us that, despite the delays to ratification that we have experienced, we have been able to secure full permitting for the project in a timeframe that would not be possible in many jurisdictions.

“This has been delivered thanks to the considerable workstreams that have been advanced simultaneously by our team, largely out of the public eye, over the last two years.

"We now look to the various milestones ahead of us with excitement as we pursue the path to production.”

Muller adds that the company intends to soon provide further clarity on the outcomes of the work it completed through the second half of 2025 to enhance the viability of the project through ongoing commodity price volatility.

He says this work will help define the direction of the project's development and inform the steps to be taken ahead of an FID.