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Mining of lithium dubbed the ‘Ewoyaa Lithium Project’ in the Central region is expected to begin by December 2024, according to the Minerals Income Investment Fund.
Ghana’s first lithium-producing mine was discovered by Atlantic Lithium Limited which in July 2023 confirmed the project’s economic viability and profitability potential for the production of 3.6 metric tonnes of spodumene concentrate over a 12-year Life of Mine.
Chief Executive Officer of the Mineral Income Investment Fund, Edward Nana Yaw Koranteng, told Oxford Business Economics Africa, that Ghana’s lithium discovery is ranked among the best 10 in the world.
“They [Atlantic Lithium Limited] recently discovered lithium finds in the Central Region; is called the Ewoyaa project by Atlantic Lithium. This project should come on stream by December 2024, and be in the top 10 lithium finds in the world”.
“There are a number of opportunities in the newly discovered lithium space in Ghana. Feldspar is a by-product of lithium, feldspar is used to produce ceramics, and Ghana is a major exporter of ceramic products”, he stressed.
“This provides good opportunities for investors not only in Ghana but also outside Ghana and is positioning itself to invest in the processing of lithium in Ghana and support investors that will be setting up battery iron factories in the lithium space”, he continued.
The Ewoyaa lithium project being developed by Atlantic Lithium is expected to be the first lithium-producing mine in Ghana, West Africa.
The project is focused on exploiting the Ewoyaa, Abonko and Kaampakrom lithium spodumene pegmatite deposits in western Ghana.
Lithium reserves at Ewoyaa
The Ewoyaa lithium project is estimated to hold 25.6 million tonnes (mt) of probable ore grading 1.22% lithium oxide (Li₂O), as of June 2023.
