Atlantic Lithium Limited, the Africa-focused lithium exploration and development company, says it is approaching a major milestone in its bid to deliver Ghana’s first lithium mine.
In its Quarterly Activities and Cash Flow Report for the period ended 31 December 2025, the company confirmed that a revised Mining Lease for its flagship Ewoyaa Lithium Project has been submitted to Ghana’s Parliament and is now before the appropriate Select Committee.
The development marks a critical stage in the regulatory process, with parliamentary ratification representing the final approval required before the project can move into full development.
“A revised version of the Mining Lease in respect of the Company’s flagship Ewoyaa Lithium Project in Ghana has been submitted to the Parliament of Ghana and referred to the Select Committee, per the necessary process for ratification.”
Atlantic Lithium Limited
Revised Fiscal Terms Aligned With National Policy
Atlantic Lithium explained that the revised Mining Lease reflects extensive consultations led by the Minister of Lands and Natural Resources, involving local stakeholders and industry players.
As part of this process, the project’s fiscal terms have been aligned with Ghana’s current mining legislation.
The company noted that the updated lease includes the adjustment of royalty rates and the Growth and Sustainability Levy to match existing statutory requirements.
“The Mining Lease includes fiscal terms that were incorporated following a period of consultation undertaken by the Minister of Lands and Natural Resources and relevant local and industry stakeholders.”
Atlantic Lithium Limited
In parallel, the Ministry of Lands and Natural Resources has submitted a Legislative Instrument to Parliament proposing a sliding scale for royalty rates specific to lithium projects.
This move is seen as part of broader efforts to modernize Ghana’s mining framework in response to growing interest in critical minerals.
Parliament Set to Reconvene in February
Atlantic Lithium said it understands that Parliament has been called to reconvene on Tuesday, 3 February 2026. Following this, the Select Committee is expected to review the revised Mining Lease and make recommendations to the House.
“The Company understands that Parliament has been called to reconvene… following which the Select Committee is expected to provide its recommendation to Parliament.”
Atlantic Lithium Limited
With all other regulatory approvals already secured, the company stressed that parliamentary ratification is the last step in the Ewoyaa Project’s permitting journey.
Once approved, the project would become Ghana’s first lithium mine, positioning the country within the global supply chain for battery minerals.
Exploration Delivers New Discoveries in Côte d’Ivoire
Beyond Ghana, Atlantic Lithium reported significant progress across its exploration portfolio in Côte d’Ivoire, where it holds 100 percent ownership of the Rubino and Agboville licences.
“New spodumene pegmatite occurrences [were] discovered in rock float from further mapping completed within the Company’s Rubino licence in Côte d’Ivoire.”
Atlantic Lithium Limited
The company also reported encouraging lithium-in-soil results from sampling programs across both licences. According to Atlantic Lithium, the results reveal pronounced lithium anomalies extending over several kilometres, pointing to strong exploration potential.
At the Agboville licence, Phase 2 soil sampling has defined a pronounced linear lithium anomaly extending over more than five kilometres, alongside other anomalous features.
Meanwhile, Phase 3 sampling at Rubino has expanded the known anomalous zone to approximately 6.0 kilometres by 2.5 kilometres.
Atlantic Lithium described the results as “impressive,” noting that they support the presence of large-scale lithium-bearing systems.
Phase 4 soil geochemical sampling is now underway at Agboville, with 984 samples already collected out of a planned 1,054, signalling steady progress in advancing exploration targets.
Funding Strengthened Through Share Placement
On the corporate front, Atlantic Lithium announced that it is strengthening its balance sheet through a second share placement under its Share Placement Agreement with Long State Investments Ltd. The company is seeking to raise £2 million through the placement of more than 19 million shares.
This follows an initial placement completed under the same agreement, which raised just over £2 million. Atlantic Lithium said the additional funds will support ongoing project development and exploration activities.
At the end of the quarter, the company reported cash on hand of A$5.4 million, providing what it described as a solid financial position as it advances both its Ghanaian and Ivorian assets.
As global demand for lithium continues to grow, driven by electric vehicles and renewable energy storage, Atlantic Lithium’s progress at Ewoyaa and across West Africa places it at the centre of the energy transition conversation.
With parliamentary approval now in sight, industry observers say the Ewoyaa Project could become a landmark development for Ghana’s mining sector, opening the door to greater participation in the critical minerals value chain while supporting the country’s industrial and green transition ambitions.
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