The government of Ghana has reaffirmed its unwavering commitment to developing the country’s lithium resources, assuring citizens that the delayed Ewoyaa Lithium Project remains a national priority.
Speaking in an interview, the Media Relations Officer at the Ministry of Lands and Natural Resources, Paa Kwesi Schandorf, said the government recognizes the enormous economic potential of the lithium sector and continues to pursue its development despite current delays.
Mr. Schandorf described Ghana’s lithium prospects as “pregnant with a lot of prospects,” emphasizing that the mineral could be a transformative asset for the country’s industrialization, job creation, and foreign exchange earnings.
“The government appreciates the prospect, is interested in the exploration, and the sector minister also sees the fortune embedded in it.”
Paa Kwesi Schandorf, MRO Ministry of Lands and Natural Resources
He explained that discussions on the project are ongoing at both Cabinet and parliamentary levels, with a resolution expected before the end of the year.
“Deliberations are still ongoing, but government’s position remains clear.
“We are fully committed to the exploration of lithium and will ensure that the Ewoyaa project is realized in a manner that benefits the nation.”
Paa Kwesi Schandorf, MRO Ministry of Lands and Natural Resources
Ewoyaa Project Faces Temporary Setbacks
The Ewoyaa Lithium Project, located in Ghana’s Central Region, is being developed by Atlantic Lithium Limited, a UK- and Australia-listed mining company.
The project has generated considerable excitement since its announcement, given its potential to make Ghana a significant player in the fast-growing global lithium supply chain, a key component in batteries used for electric vehicles and renewable energy storage.
However, the project has faced delays in recent months, leading to growing public concern over timelines and investor confidence.
Despite these challenges, Mr. Schandorf assured stakeholders that the government’s engagement with relevant partners remains active and constructive.
“The Ministry continues to work closely with all stakeholders, including Parliament, the Ghana Integrated Aluminium and Bauxite Authority (GIADEC), and our private partners, to ensure that every decision taken aligns with Ghana’s long-term interest.”
Paa Kwesi Schandorf, MRO Ministry of Lands and Natural Resources
He further noted that lithium exploration and production would form part of Ghana’s broader strategy to diversify its mineral portfolio and attract sustainable investment into the green economy.
Atlantic Lithium Secures $37.5 Million to Advance Development
In a parallel development, Atlantic Lithium announced that it has secured up to $37.5 million (£28 million) in funding from Hong Kong-based Long State Investments, signaling renewed confidence in the project’s financial and operational outlook.
The company disclosed the deal in a statement, confirming it had entered a two-part financing arrangement, an £8 million share placement and a £20 million committed equity facility to bolster its balance sheet as it moves closer to developing Ghana’s first lithium mine.
The funding package, spread over 24 months, will provide both immediate capital and long-term financial flexibility for the company.
According to Atlantic Lithium, the initial share placement will raise £2 million through the issue of 24.8 million shares, with three additional tranches of £2 million each available at its discretion.
The £20 million equity facility, pending shareholder approval at an extraordinary general meeting scheduled for October, will enable the company to issue new shares in stages over two years.
This structure, the company said, ensures liquidity and operational continuity even amid a subdued global lithium market.
Atlantic Lithium emphasized that the investment from Long State Investments demonstrates strong confidence in Ghana’s emerging lithium industry and reflects the project’s long-term commercial viability.
Strategic Importance of Lithium
Lithium has emerged as one of the most sought-after minerals globally, driven by the accelerating demand for electric vehicles and clean energy technologies.
For Ghana, the Ewoyaa discovery presents a rare opportunity to position itself as a key supplier of critical minerals in Africa.
Mr. Schandorf highlighted that government’s approach to lithium development would balance investor interest with local benefit, ensuring that Ghanaians derive fair value from the country’s natural resources.
“The Ministry of Lands and Natural Resources is focused on building a framework that ensures responsible mining, value addition, and community development.”
Paa Kwesi Schandorf, MRO Ministry of Lands and Natural Resources
He added that Ghana intends to avoid the pitfalls of past resource exploitation by insisting on fair royalties, local participation, and environmental sustainability in all lithium-related agreements.
As negotiations continue at the highest policy levels, the government remains optimistic that the Ewoyaa Lithium Project will proceed to the next phase of development soon. Mr. Schandorf reiterated that transparency and national interest will guide every decision on lithium exploration and exploitation.
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