Australian mining company Atlantic Lithium has raised $6.7 million through an equity placement to advance the Ewoyaa Project in Ghana. The project represents the country’s first lithium mine.
The funds will be allocated toward completing Ewoyaa’s Definitive Feasibility Study, boosting working capital and finalizing permitting and operational requirements. This step will bring the project closer to a final investment decision.
“The successful placing, undertaken in a challenging market environment for lithium companies, demonstrates strong support for the project from existing and prospective shareholders,” stated Neil Herbert, Executive Chairman of Atlantic Lithium.
The Ewoyaa Project received an environmental permit and a 15-year mining license in September 2024 and October 2023, respectively.
“With the proceeds allocated to completing key activities to advance the Ewoyaa towards project FID, the placing puts the company on firm footing to achieve its ambitions of delivering commercial production of spodumene in Ghana,” Herbert added.
