The Ghana Chamber of Mines has called on Parliament to expedite the ratification of the Ewoyaa lithium mining lease granted to Atlantic Lithium Limited, warning that continued delays risk undermining the project’s economic viability and stalling significant gains for stakeholders, communities, and the country at large.
Speaking to the media, Acting Chief Executive Officer of the Chamber, Ahmed Dasana Nantogmah, underscored the urgency of the matter, disclosing that Atlantic Lithium has already begun laying off staff as a direct result of the ratification delay.
“Recently, Atlantic Lithium had to lay off staff because of the delay, so you can understand the repercussions.
“Any contracts that were signed while awaiting ratification may now have to be abrogated or renegotiated.”
Mr. Ahmed Natogmah, the Acting CEO of the Ghana Chamber of Mines
Atlantic Lithium, an exploration and development company listed on multiple stock exchanges, has invested approximately $70 million in the Ewoyaa project since 2016.
The project, located in Ghana’s Central Region, was set to become the country’s first lithium mine and a key player in the global electric vehicle supply chain.
At full operation, Ewoyaa was projected to place Ghana among the top 10 global producers of spodumene concentrate, a vital raw material for lithium-ion batteries.
However, the project has been stalled pending parliamentary ratification, even though the government granted the mining lease in October 2023.
Mr. Nantogmah stressed that the ripple effects of the delay are already being felt across the value chain—from contractors and service providers to host communities expecting job creation and local economic development.
“The impact is significant across the entire value chain—for stakeholders, companies, and even communities that were anticipating income and employment opportunities.
“These benefits will remain stalled until the deal is ratified in a way that is both economically and socially sustainable.”
Mr. Ahmed Natogmah, the Acting CEO of the Ghana Chamber of Mines
The delays come at a time of mounting pressure in the global lithium market. Since peaking in late 2022, lithium prices have plummeted by over 80 percent, driven by oversupply concerns and advances in battery chemistry that reduce reliance on lithium.
Mr. Nantogmah warned that the terms of the original agreement—which were based on then-favorable market conditions—may no longer be economically tenable without timely action.
“When you look at the concessions under the deal, the precious price concessions were different.
“Now the prices have fallen. They have to look at it.”
Mr. Ahmed Natogmah, the Acting CEO of the Ghana Chamber of Mines
The shifting market dynamics mean that prolonged delays not only threaten the viability of Ewoyaa but could also dissuade other potential investors in Ghana’s emerging critical minerals sector.
Call for Due Process
In a related development, Nantogmah also voiced support for the government’s approach to the Damang Mine, where a one-year transitional arrangement was recently agreed between Gold Fields and the state.
“We believe it opens the door for negotiations, dialogue, and broader stakeholder engagement.
“It shows that Ghana is a law-abiding country where concessions cannot be forcibly taken. Agreements must be reached through mutual understanding.”
Mr. Ahmed Natogmah, the Acting CEO of the Ghana Chamber of Mines
The Chamber lauded this phased, consultative approach as a model for managing transitions in Ghana’s mining sector, especially at a time when investor confidence is critical to attracting long-term capital.
Industry watchers agree that the Ewoyaa project represents a crucial opportunity for Ghana to diversify its mineral economy and tap into the global clean energy transition.
However, they caution that this potential will remain unrealized unless Parliament and other stakeholders act decisively.
With considerable investments already on the line and significant social and economic benefits at stake, it is imperative that Parliament acts promptly to secure the future of Ghana’s burgeoning lithium industry and, by extension, its broader economic development.
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