Ghana’s Ewoyaa Project is facing challenges due to declining global lithium prices. This project, managed by Atlantic Lithium, aims to produce 360,000 tons annually. However, delays in parliamentary ratification are causing uncertainties.

Concerns Over Global Lithium Prices

Ghana’s mining regulator has raised alarms about the potential impact of dropping lithium prices. The production cost stands at $650 per ton, but the market price hovers just above $700.

Impact of Delays

Martin Ayisi, of Ghana’s Minerals Commission, highlights that the project could stall due to setbacks. The lithium market has shifted as supply increased while demand, especially for EVs, softened.

The Race Against Time

With emerging alternatives in the EV market, rapid mining is crucial for maintaining competitiveness. The delay until the first quarter of 2025 complicates this timeline further.

Regulatory Hurdles

Broader consultations have postponed ratification, aiming to refine the legislative process. Additionally, an operational permit is needed before construction, which will take 22 months to complete.

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