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ACCRA - Atlantic Lithium Limited (AIM:ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF), the mining company spearheading the development of Ghana’s first lithium-producing mine, is in discussions with the Ghanaian Government seeking fiscal concessions for its Ewoyaa Lithium Project. The company’s move comes as a response to the significant decline in lithium prices since the Ewoyaa Mining Lease was granted in October 2023.
The company has been actively engaging with government representatives and other key stakeholders to negotiate fiscal terms that align with the current market conditions for lithium. These discussions are part of Atlantic Lithium’s broader efforts to navigate the challenging global lithium market while ensuring the Ewoyaa project advances to production.
Despite the market downturn, Atlantic Lithium has reiterated its commitment to the Ewoyaa project and its potential benefits for Ghana, emphasizing the creation of local employment opportunities and the development of skills within the community. The project is envisioned to generate critical revenues for the country.
Neil Herbert, Executive Chairman of Atlantic Lithium, commented on the situation, stating, "We are dedicated to working in a spirit of partnership with the Government of Ghana and our host communities to ensure Ewoyaa becomes a flagship project for the country and the region. While current lithium prices present headwinds, we believe that through collaboration and prudent fiscal measures, we can advance Ewoyaa to production and deliver lasting value for all stakeholders."
The company’s appeal for fiscal concessions is part of its strategy to adapt to the prevailing economic conditions in the lithium market and to maintain the viability of the Ewoyaa project. Atlantic Lithium’s discussions with the Ghanaian Government are ongoing as they seek a mutually beneficial agreement that will support the project’s progression.
This news is based on a press release statement issued by Atlantic Lithium Limited, with the information authorized for release by Amanda Harsas, Finance Director and Company Secretary of the company.
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