Chamber of Mines Urges Parliament to Ratify Atlantic Lithium Lease Amid Price Slump
The Ghana Chamber of Mines has urged Parliament to hasten the ratification of the Ewoyaa lithium mining lease granted to Atlantic Lithium Limited, warning that continued delays could jeopardise the project’s viability and deny stakeholders significant economic benefits.
The Chamber further called for a reassessment of the lease terms in light of the recent collapse in global lithium prices, which have plummeted by over 80 percent since their peak in November 2022.
Speaking to the media, Acting CEO of the Chamber, Ahmed Dasana Nantogmah, stressed the need for urgent action, revealing that Atlantic Lithium has already been forced to lay off staff due to prolonged delays in securing parliamentary approval.
“When you look at the concessions under the deal, the precious price concessions were different. Now the prices have fallen. They have to look at it,” Mr Nantogmah said.
“Recently, Atlantic Lithium had to lay off staff because of the delay, so you can understand the repercussions. Any contracts that were signed while awaiting ratification may now have to be abrogated or renegotiated,” he added.
He noted that the continued stalling of the lease ratification threatens income and employment prospects for communities in the Central Region and poses wider risks to Ghana’s ambition of becoming a leading global producer of spodumene concentrate, a key raw material for lithium batteries.
Atlantic Lithium has since 2016 invested approximately $70 million in the development of the Ewoyaa project, which is set to become the country’s first lithium mine.
Mr Nantogmah underscored that the broader economic and social value chain remains on hold until Parliament acts, insisting that a sustainable and timely ratification is crucial.
