How Atlantic Lithium's Project in Ghana can be a Game Changer for the Global Lithium Market?

Atlantic Lithium Takes Major Strides in Ewoyaa Lithium Project Development, Targeting Construction Commencement in Late 2024 and Initial Production in Early 2025

Atlantic Lithium, the African-focused lithium exploration and development company, is making remarkable progress in the development of its flagship Ewoyaa Lithium Project. With the goal of delivering Ghana's first lithium mine, Atlantic Lithium is rapidly moving towards commencing construction by late 2024 and achieving initial production by early 2025.

Bulk Customer Permit Obtained, Promising Significant Cost Reductions

In a significant development, Atlantic Lithium has been awarded the Bulk Customer Permit, addressing the electricity requirements of the Ewoyaa Lithium Project. This permit is expected to bring about a substantial reduction of 30-50% in overall power costs for the project, positioning Atlantic Lithium for greater profitability and sustainability.

Key Contracts Progressing on the Critical Path

Ensuring smooth project execution, Atlantic Lithium has been diligently advancing key contracts critical to the success of the Ewoyaa Lithium Project. These contracts include engineering, procurement, construction, and management (EPCM) for the main processing plant and non-processing infrastructure, procurement of a mining contractor, and acquisition of a modular Dense Media Separation (DMS) unit and mobile crusher. Additionally, the company is soon to award the contract for diverting transmission lines crossing the project site, expected by Q2 2024.

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Confirmation of Viability through Flotation Scoping Study

Atlantic Lithium has successfully completed the Flotation Scoping Study, confirming the feasibility of incorporating a downstream flotation circuit at the Ewoyaa Lithium Project. This promising result indicates potential for future value addition and solidifies Atlantic Lithium's position as an industry leader in lithium production.

Maiden Feldspar Mineral Resource Estimate and Study

In line with ongoing evaluations to maximize the Ewoyaa Project's value, Atlantic Lithium expects to announce its maiden feldspar Mineral Resource Estimate in Q4 2023. The company is concurrently conducting a Feldspar Study to determine the viability of producing feldspar as a by-product of spodumene production at the Project. This multifaceted approach further underscores Atlantic Lithium's commitment to sustainable resource utilization.

Assessing Potential for Lithium Conversion Plant in Ghana

Within the terms of the Mining Lease grant for the Project, Atlantic Lithium is collaborating with Engineering Procurement and Construction firm Mincore to evaluate the establishment of a downstream lithium conversion plant in Ghana. This strategic move aligns with the company's vision of maximizing the value of lithium resources in the region and solidifying Ghana's position in the global lithium market.

Strengthening Leadership Team Through Key Appointments

Recognizing the need for exceptional leaders during the critical phase of transitioning from explorer and developer to producer, Atlantic Lithium has recently appointed three General Managers. This includes a General Manager, Operations, who will play a key role in leading recruitment efforts to strengthen the leadership team with individuals possessing extensive mine building and operating experience. These appointments demonstrate Atlantic Lithium's commitment to effective project management and operational excellence.

With each milestone achieved, Atlantic Lithium is moving closer to achieving its vision of establishing Ghana's first lithium mine and contributing to the growth of the African lithium sector. The company's targeted construction commencement in late 2024 and initial production in early 2025 mark an exciting phase in Atlantic Lithium's journey to becoming a leading player in the global lithium market.

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