• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, February 4, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana: New Lithium Discovery to Last for Over 11 years, Scoping Study Reveals

December 9, 2021
Stephen KotochiebyStephen Kotochie
in Extractives/Energy, Sub Top Stories2
0
gold

Heavy duty machines on mining site.

A scoping study update completed by Atlantic Lithium has revealed that the Life of Mine (LOM) operations of the Ewoyaa Lithium project, West Africa’s first lithium project will last for over 11 years.

While the study update increased the project’s LOM operations, its production capacity also showed an average of 300,000 tonnes per annum (tpa) of 6 per cent lithium oxide (Li2O) spodumene concentrate.

The scoping study on the Ewoyaa lithium project incorporated the increased Joint Ore Reserves Committee (JORC) resource of 21.3 million tonnes (Mt), resulting in a significant improvement in project economics and life of mine.

RelatedPosts

Oil Weakens As Market Awaits Signs Of China Demand Recovery

Newmont Obliges To Ghana’s Tax Laws, Pays Gh¢184.6m As Dividends To Government

Shell Capitalizes On The Season, Makes The Highest Profit in 115 Years

The company stated that the study update delivers exceptional financial outcomes, with LOM revenues exceeding US$3.43 billion, post-tax NPV8 of US$789 million, internal rate of return (IRR) of 194 per cent over 11.4 years, and an “industry-leading payback period” of less than 1 year.

It also included a $70 million capital cost with cash operating costs of $249 per tonne of 6% lithium spodumene concentrate free on board at Ghana port after byproduct credits, and a pre-tax NPV8 of $1.23 billion and EBITDA of $2.02 billion for the life-of-mine.

In addition to spodumene production, the company noted that the study update included two additional revenue streams: a saleable direct shipping ore fines product and a saleable feldspar by-product.

Ewoyaa Project an Industry-leading Asset

The scoping study incorporated a conventional open cut mining operation from surface with low to moderate stripping ratios and simple processing through conventional Dense Media Separation (DMS) only.

CEO Vincent Mascolo stated, “…Update regarding the company’s exceptional scoping study confirms that the Ewoyaa is an industry-leading asset and transformational for Atlantic Lithium. The project leverages existing infrastructure, including directly adjacent HV power, a major highway within one kilometre of the site, and the major port of Takoradi, 110 kilometres away.

“Few hard-rock lithium projects worldwide can boast the proximity to existing operational infrastructure, lithium grade and a simple DMS-only process route that separates Ewoyaa from its peers.”

Vincent Mascolo, CEO

The study estimated that every additional year of production would add up to $60 million in post-tax NPV per annum, Mascolo added.

ironridge mascolo
Vincent Mascolo, CEO

Importantly, the company pointed out that there is a significant exploration upside potential from the historic Egyasimanku Hill deposit (1.5Mt at 1.66% Li2O, non-JORC) and surrounding 560km2 portfolio.

“Our resource continues to grow, and the upside of the project is clear; further resource drilling recently completed, as such, we expect that the project metrics will improve beyond the current defined life-of-mine.

“Given these fundamentals, we are very excited by the resurgence and exponential growth potential across the lithium supply chain and reaffirm to the market that Atlantic is ideally poised to capture the lithium market going forward.”

Vincent Mascolo, CEO

Recall that a few weeks ago, the company received its license to expand its operations, covering an area of 139.23km2, near the company’s Mankessim exploration site, Ewoyaa Lithium and also adjacent to the company’s Saltpond license. This, the company said was “exceptionally well located”, in terms of both geological and infrastructure perspective.

READ ALSO: Ghana’s Passport Ranks 84th in World’s Most Powerful Passports in Q4 2021

Tags: EwoyaaLithiumproduction capacityrevenuesscoping study

Related Posts

Oil Weakens As Market Awaits Signs Of China Demand Recovery
Extractives/Energy

Oil Weakens As Market Awaits Signs Of China Demand Recovery

February 3, 2023
Newmont Obliges To Ghana’s Tax Laws, Pays ¢184.6m As Dividends To Government
Extractives/Energy

Newmont Obliges To Ghana’s Tax Laws, Pays Gh¢184.6m As Dividends To Government

February 3, 2023
Shell Capitalizes On The Season, Makes The Highest Profit in 115 Years
Business

Shell Capitalizes On The Season, Makes The Highest Profit in 115 Years

February 2, 2023
Angola Exempts Chevron from Offshore Drilling Environmental Policies, Allowing it to Dump Oil Waste into the Ocean
Extractives/Energy

Energy Ministry Cancels Oil Block Negotiations with Eni and Three Others

January 31, 2023
Bank Of Ghana Mobilizes GH¢1.07 Billion From Issuance Of The 14-Day BOG Bill
Opinions

Is this the Beginning of the End of Ghana’s Fiscal Crisis?

January 30, 2023
Ghana Needs Over US$ 562 billion To Attain Its Net Zero Carbon Emission Target
Extractives/Energy

Ghana Needs Over US$562 billion To Attain Its Net Zero Carbon Emission Target

January 29, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

No one involved in Sylvester Oromoni’s killing will be spared – President Buhari

Next Post

Omicron Variant: GSE Swings Yet Again as Volatility Persists

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Be Careful Of The People You Discuss Your Marital Affairs With – Counsellor
Entertainment

Be Careful Of The People You Discuss Your Marital Affairs With – Counsellor

by Esther Korantemaa OffeiFebruary 3, 2023
Oil Weakens As Market Awaits Signs Of China Demand Recovery
Extractives/Energy

Oil Weakens As Market Awaits Signs Of China Demand Recovery

by Stephen M.CFebruary 3, 2023
Blinken Postpones China Trip Over Mystery Flying Ballon
USA

Blinken Postpones China Trip Over Mystery Flying Ballon

by Comfort AmpomaaFebruary 3, 2023
Newmont Obliges To Ghana’s Tax Laws, Pays ¢184.6m As Dividends To Government
Extractives/Energy

Newmont Obliges To Ghana’s Tax Laws, Pays Gh¢184.6m As Dividends To Government

by Gifty BansahFebruary 3, 2023
Uber And Nissan To Partner For Africa’s Green Economy Summit
Innovation

Uber And Nissan To Partner For Africa’s Green Economy Summit

by Priscilla Dziedzorm FiakpornuFebruary 3, 2023
Education Minister To Appear Before Parliament Over SHS Placement Scandal On February 11
General News

Education Minister To Appear Before Parliament Over SHS Placement Scandal On February 11

by Emmanuel SarpongFebruary 3, 2023
Be Careful Of The People You Discuss Your Marital Affairs With – Counsellor
Oil Weakens As Market Awaits Signs Of China Demand Recovery
Blinken Postpones China Trip Over Mystery Flying Ballon
Newmont Obliges To Ghana’s Tax Laws, Pays ¢184.6m As Dividends To Government
Uber And Nissan To Partner For Africa’s Green Economy Summit
Education Minister To Appear Before Parliament Over SHS Placement Scandal On February 11
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In