• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

African lithium project boosts US drive to close EV gap on China

2 years ago
in Business, Economy, Energy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
48
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

African lithium project boosts US drive to close EV gap on China

Africa’s first major lithium project without Chinese funding is set to bolster US ambitions of developing its own battery-making industry.

Half of the output from Ghana’s Ewoyaa mine, being built by Australia’s Atlantic Lithium Ltd., is earmarked for a refinery that Piedmont Lithium Ltd. plans to construct in Tennessee. Piedmont is Atlantic Lithium’s second-largest shareholder and has agreed to provide most of the funds for the project.

“Our investment in Ewoyaa will help alleviate potential future US supply constraints and provide crucial resources to help reduce America’s dependence on foreign nations, like China,” Piedmont Chief Executive Officer Keith Phillips said in an emailed response to questions.

China is pouring investment into lithium mines in Zimbabwe, Mali and the Democratic Republic of Congo to secure the battery metals for its dominant electric-vehicle industry. The supply of critical battery materials — including lithium, nickel and cobalt — is gaining greater urgency amid wild swings in prices and the US administration’s push for companies to reduce their reliance on China.

While lithium prices have fallen back from last year’s peak, the race for the battery metal has lured mining heavyweights, automakers and even oil majors. A projected shortfall from 2025, as demand from EVs surges, is driving the search for new supplies.

Piedmont was prepared to accept an equal share in the Ghanaian project, whereas potential Chinese backers wanted a controlling stake, Atlantic Lithium CEO Keith Muller told Bloomberg in an interview last week.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

The US firm, which supplies Tesla Inc. and LG Chem, exercised an option in August to acquire an initial 22.5% stake in Ewoyaa and committed to fund the first $70 million required to develop the asset. It will also provide half of the additional costs thereafter.

Ewoyaa, Africa’s third-biggest lithium project under development, will take advantage of President Joe Biden’s Inflation Reduction Act, which offers tax credits to support the EV supply chain in the US.

“What the IRA does for me is it gives me certainty that 50% of my offtake is going into a hydroxide facility that’s destined for incentivized battery conversion,” Muller said.

African Supply

Mines across Africa are forecast to increase lithium output more than 70-fold by 2030, compared with last year’s volume, according to BloombergNEF. That would increase Africa’s share of global supply to 14% from 1%.

Atlantic Lithium, which is still awaiting an environmental permit, aims to produce its first concentrate at Ewoyaa in the second quarter of 2025. Industrial scale output will only start in 2026 with a projected production of 36,000 tons of lithium carbonate equivalent — enough to power about 800,000 Tesla Model 3s.

The company is considering processing feldspar — a byproduct of mining that’s used in ceramics and tiles — as well as producing higher-value lithium chemicals from the output not destined for Piedmont, Muller said.

Tags: African lithium projectAfrican lithium project boosts US drive to close EV gap on ChinaChinaEVUS
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.