Atlantic Lithium Ltd ((AIM: ALL, ASX: A11, OTCQX: ALLIF) is taking major strides in the development of the Ewoyaa Lithium Project, targeting the commencement of construction in late 2024 and initial production in early 2025.
This decrease is attributed to a one-year bulk customer permit from the Ghana Energy Commission, enabling the company to negotiate with bulk energy suppliers and potentially cut power costs by 30-50%.
The company is transitioning from exploration to development and has appointed three new general managers to lead local operations, commercial & finance, and HR. Advanced negotiations are underway for the engineering, procurement, construction, and management (EPCM) contract for the main processing plant and additional infrastructure.
Atlantic Lithium is also in the process of selecting mining contractors and purchasing a dense media separation unit, with plans to soon start tendering for a mobile crusher. A completed flotation scoping study has affirmed the feasibility of including a downstream flotation circuit, which will enhance the recovery of finer-grained pegmatite material.
The Ghanaian government has shown interest in approving the mining lease before the year’s end. The company has submitted a scoping report for a downstream conversion plant to the Environmental Protection Agency and held a successful inaugural Community Consultative Committee meeting, receiving strong local support.
Keith Muller, the CEO, highlighted the significant strides made since the mining lease grant in October 2023, including extended exploration programs and progress towards operational readiness. The company is also actively engaging with local stakeholders.
Upcoming milestones include a maiden feldspar mineral resource estimate, expected before year-end, and a study on the potential production of feldspar as a by-product of spodumene production. Findings from the downstream conversion study are anticipated in the next year’s first quarter.
