Atlantic Lithium Submits Revised Fiscal Terms Ewoyaa Mining Lease to Parliament for Ratification
Atlantic Lithium Limited has confirmed that a revised Mining Lease for its flagship Ewoyaa Lithium Project has been submitted to the Parliament of Ghana and referred to the appropriate Select Committee, marking a key step toward securing approval for the development of what is expected to be Ghana’s first lithium mine.
In an update to the market, the Africa-focused lithium exploration and development company said the revised Mining Lease was submitted in line with Ghana’s constitutional and parliamentary requirements for mineral agreements.
The revised lease incorporates updated fiscal terms following consultations led by the Minister of Lands and Natural Resources with relevant stakeholders on Ghana’s current mining code and the application of royalties. Atlantic Lithium said it supported the consultative process.
Revised royalty framework aligned with Ghana’s mining code
Under the revised terms, the Project’s royalty rate and Growth and Sustainability Levy have been aligned with prevailing legislated rates in Ghana. This follows the submission to Parliament of a new Legislative Instrument — the Minerals and Mining (Royalty) Regulations, 2025 — which introduces a sliding scale royalty regime for lithium projects based on spodumene prices.
The proposed royalty structure sets rates according to price thresholds, with higher royalties applying as spodumene prices increase, reflecting government efforts to better align mineral revenues with market conditions.
Atlantic Lithium noted that the Legislative Instrument will be considered in accordance with due parliamentary process and that the royalty framework applies specifically to lithium projects.
Other fiscal terms unchanged
The company emphasised that aside from the updated royalty and levy alignment, all other fiscal terms contained in the Mining Lease granted in October 2023 remain unchanged.
Following Parliament’s adjournment for the festive period, Atlantic Lithium expects the Select Committee to begin its review of the revised Mining Lease in the New Year, after which it will make a recommendation to Parliament on whether the agreement should be ratified.
Company confident of approval
Atlantic Lithium said it remains confident that ratification of the Mining Lease will be achieved in line with due parliamentary process, although it cautioned shareholders that there is no certainty Parliament will approve the agreement or that the proposed terms of the Legislative Instrument will remain unchanged.
The Ewoyaa Project is central to Atlantic Lithium’s strategy and is positioned as a key pillar in Ghana’s emerging lithium and battery minerals value chain, as the country seeks to leverage its mineral resources to support industrialisation and energy transition goals.
