Atlantic Lithium, which has been operating in Ghana since 2016, when it began fieldwork as part of its initial exploration, believes that its Admission to trading will underline Ghana’s commitment to establishing itself as a major player in the global battery metals market. Following the grant of the Mining Lease for the advancement of the Company’s flagship Ewoyaa Lithium Project, the Company is considered the ‘partner of choice’ for the Ghanaian Government to deliver long-term production of lithium in the country.
In January 2024, the Minerals Income Investment Fund of Ghana (“MIIF”) became a strategic shareholder in Atlantic Lithium following a US$5m investment, serving as the first stage of MIIF’s planned total US$32.9m investment in the Company. Through its investment, MIIF, which aims to maximise the value of the country’s dividend and royalties income from its mineral projects to drive long-term value for Ghana, recognises both the role that Atlantic Lithium is expected to play in leading Ghana’s green minerals ambitions, as well as its potential as an investment opportunity. With MIIF recommending and supporting that all mining companies in which it has equity investments to list on the GSE, Atlantic Lithium has been closely working with both parties to deliver its admission to trading.
Atlantic Lithium will be listing its issued shares on the Main Market of the GSE by introduction, meaning that it will not issue any new shares when it begins trading.
The GSE listing will help Ghanaian investors more easily purchase shares from the Australian Securities Exchange or the London Stock Exchange’s AIM, where the Company is already trading, enabling Ghanaians to share ownership in the advancement of the Ewoyaa Lithium Project and the generational benefits it is expected to deliver.
The listing comes at a time when the Ewoyaa Lithium Project is moving significantly closer to the mine construction phase, with the permitting phases currently underway and full production of lithium targeted for 2026. Ewoyaa is expected to produce 365,000 tonnes of lithium per year, making it one of the top three largest spodumene mines in Africa and among the largest in the world, putting Ghana on the map for as a major source of lithium, intended to supply the global EV chain.
Atlantic Lithium is dedicated to maximising benefits to the Ghanaian people through the Ewoyaa Lithium Project. The company has already contributed to the Ghanaian economy as the leading employer and taxpayer in the Central Region and takes pride in its in-country workforce, which is entirely Ghanaian. In addition, Atlantic Lithium has established a community development fund, through which revenue generated from Ewoyaa will be allocated to initiatives intended to drive socio-economic development in the catchment area of the Project; in the Central Region, specifically.
Atlantic Lithium is looking forward to welcoming Ghanaians onto its shareholder register, ensuring maximum alignment with the long-term success of the company and its Ghanaian stakeholders.
Neil Herbert, Executive Chairman of Atlantic Lithium:
“We are delighted to have received approval to list Atlantic Lithium shares on the Ghana Stock Exchange as we strive to bring further tangible benefits to the Ghanaian community.
“The GSE listing comes at an exciting time for the Company, as over the next few months we expect to complete several milestones, such as the conclusion of the competitive offtake partnering process, the grant of the final permits we require, and the ratification of the Mining Lease by parliament; all of which will play an important role in progressing the Project towards mine construction.
“In addition to the investment by MIIF, we believe that trading on the GSE will allow Ghanaian investors the opportunity to contribute towards the advancement of Ghana’s first lithium mine, which is expected to support the country’s long-term critical mineral production objectives.
“In listing Atlantic Lithium shares on the GSE, we intend to maximise local participation in the Ewoyaa Lithium Project and align our Ghanaian stakeholders with the long-term success of the Company. We look forward to welcoming new Ghanaian investors onto Atlantic Lithium’s shareholder register.”
