(NewsDirect)
AtlanticLithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) CEO Keith Mullerjoined Proactive's Stephen Gunnion with the news that the companyhas been granted a mining lease for the Ewoyaa lithium project byGhana's Ministry of Lands and Natural Resources.
Muller said the leaseis the first to be granted for lithium in Ghana and also covers itsprocessing plant, enabling construction and movement of the projecttowards commercial production.
The company expects Ewoyaa will be one of theworld’s lowest capital and operating cost hard rock lithiumprojects, with the potential for a 2.7Mtpa steady state operationproducing a total of 3.6Mt of spodumene concentrate (approximately350,000tpa) over a 12-year mine life.
Muller said estimated development costs ofUS$185 million will be substantially funded by partner PiedmontLithium and a planned investment by MIIF, Ghana's sovereign wealthfund.
Atlantichas also agreed to list on the Ghana Stock Exchange and will undertakemore studies to assess the potential for feldspar as a by-product atEwoyaa with downstream conversion in Ghana.
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