Atlantic Lithium Ghana has reaffirmed its strong commitment to community development and national growth, even before the start of production at Ghana’s first lithium project. The company has already paid GH¢19 million in taxes and pledged 1% of its revenue—not profit—to a dedicated community development fund, setting what it describes as “a new benchmark” for corporate responsibility in the mining sector.
General Manager of Operations, Ahmed Salim Adam, who disclosed this in Accra at the sidelines of the maiden Africa Extractives Media Fellowship training, said the company is optimistic that parliamentary ratification of its Ewoyaa mining lease will be achieved before the close of 2025.
That milestone, he noted, will clear the way for construction to begin at the Ewoyaa Lithium Project—a project expected to transform Ghana’s role in the global energy transition.
“We’ve not started operations yet, but the hope is that we’ll achieve ratification by the end of the year,” Mr. Adam stated. “Once that happens, we’ll revisit the investment decision and, hopefully, break ground. Construction will take about 18 to 24 months before production begins.”
He emphasised that Atlantic Lithium’s early tax contribution and community-focused model reflect its deep commitment to Ghana’s development.
“We paid about GH¢19 million in taxes even before operations begin. That shows our commitment to Ghana,” he said, adding that the 1% community revenue allocation will directly empower local communities to decide how funds are used. “That’s a game changer,” he emphasized.
Mr. Adam explained that the Ewoyaa project represents a new governance model for Ghana’s extractives sector. Under the agreement, the Government of Ghana holds a 13% free carried interest, while the Minerals Income Investment Fund (MIIF) retains the option to increase its stake—a move that enhances local participation and accountability.
“Government’s involvement is not just about taxes anymore,” he noted. “It’s also about having a seat in the boardroom—being part of key decisions such as when dividends are paid. That’s a significant shift from the past.”
He acknowledged, however, that global lithium prices have declined sharply since the agreement was signed in 2023, prompting a review of project economics.
“When the lease was signed, lithium was about US$3,000 per tonne. We used US$1,500 for our feasibility study, but today it’s between US$850 and US$900. Naturally, we have to reassess the financials,” he said.
Despite market fluctuations, Mr. Adam said discussions with the Minister for Lands and Natural Resources and the Minerals Commission have been “cooperative and forward-looking,” with all stakeholders aligned on making the project viable and beneficial for Ghanaians.
He described the Ewoyaa project as more than a mining venture—it’s a model for equitable resource governance, local empowerment, and transparency.
“This is not just about mining lithium—it’s about doing it right and ensuring that Ghanaians benefit meaningfully from their resources,” he added.
The Africa Extractives Media Fellowship, an initiative by Newswire Africa with support from the Australian Government, aims to strengthen journalistic capacity in extractives reporting across the continent. It focuses on ethical storytelling, environmental accountability, gender inclusion, and governance reform.
About thirty selected journalists are participating in maiden edition in Accra over a six-month period as organisers are hopeful of before expanding it to Southern and Eastern Africa in future.
By: Christian Kpesese/ www.naturalresourcesnews.com
