Atlantic Lithium Ltd is accelerating efforts to finalise the mining lease for its flagship Ewoyaa Lithium Project in Ghana as it slashes costs and restructures leadership to navigate a depressed lithium market. The company’s CEO, Keith Muller, outlined the strategy in a recent update to business news outlet Proactive.
Securing ratification of the mining lease by Ghana’s parliament before the end of August has become the firm’s top priority. The company has already secured environmental and mine operating permits. Fiscal terms have been agreed with the Ghanaian government, with the final lease now awaiting legislative review.
‘The key task now is to find ways of further reducing our all-in sustaining cost to make sure it’s a viable proposition,’ said Muller, emphasising the company’s commitment to capital preservation in today’s challenging price environment.
Leadership overhaul and tighter cost control
Recent leadership changes reflect Atlantic Lithium’s drive to lower overheads while maintaining momentum on project-critical tasks. Muller said the company remains sharply focused on conserving cash amid lithium prices that he described as below sustainable levels.
The company believes that demand will rebound strongly in the coming years, citing forecasts that global lithium consumption—already doubled since 2021—is expected to double again by 2031. A return to market balance is anticipated by late 2026.
Looking beyond Ewoyaa: Cote d’Ivoire expansion
As part of its long-term strategy, Atlantic Lithium is also advancing exploration activities in Côte d’Ivoire, where it holds two 100 percent-owned licences spanning 770km² near the port of Abidjan. Preliminary exploration has confirmed spodumene indicators and lithium anomalies.
Lab analysis is under way to support the design of a systematic drilling programme. The initiative is intended to provide a development pipeline beyond Ewoyaa’s estimated 12-year mine life and strengthen the company’s West African footprint.
Strategic recalibration for survival and growth
The company’s current positioning reflects a broader recalibration across the lithium sector, where short-term oversupply and weakening prices are forcing miners to trim budgets and refocus.
Despite the downturn, Atlantic Lithium is banking on long-term demand fundamentals and its strong project base in Ghana and Côte d’Ivoire to weather the storm. Ratification of the Ewoyaa lease is seen as the critical next step to unlock project financing and advance toward construction.
Credit: Africabriefing
