The Ghana Chamber of Mines has thrown its support behind Atlantic Lithium’s appeal for a reassessment of the country’s fiscal terms, citing the sharp decline in global lithium prices. Both parties argue that current tax and royalty structures may hinder investment and long-term viability of lithium projects critical to Ghana’s mining future. As commodity markets face increased volatility, stakeholders are urging the government to adopt more flexible, investor-friendly policies to sustain growth in the emerging battery minerals sector.
Mines has echoed concerns over the fiscal terms of Atlantic Lithium‘s Ewoyaa mining project, citing the need for a review in light of tumbling global lithium prices. Comments made by the Chamber’s Acting CEO, Ahmed Dasana Nantogmah, during an interview with Citi Business News, align closely with Atlantic Lithium’s ongoing discussions with the government for concessions that reflect current market realities.
“When you look at the concessions under the deal, the precious price concessions were different. Now the prices have fallen. They have to look at it,” Nantogmah said.
His remarks come as Atlantic Lithium seeks to adjust the fiscal framework for its Ewoyaa project, Ghana’s first lithium-producing mine, following an 80% drop in lithium prices since their peak in November 2022. The company has been in active talks with government representatives to address the financial implications of this downturn.
Nantogmah also drew attention to the real-time impact of the delays. “Recently, Atlantic Lithium had to lay off staff because of the delay, so you can understand the repercussions,” he explained. “Any contracts that were signed while awaiting ratification may now have to be abrogated or renegotiated.”
He further noted the broader consequences of stalled progress: “The impact is significant across the entire value chain, for stakeholders, companies, and even communities that were anticipating income and employment opportunities. These benefits will remain stalled until the deal is ratified in a way that is both economically and socially sustainable.”
Meanwhile, Atlantic Lithium’s Executive Chairman, Neil Herbert, reaffirmed the company’s commitment to the project, stating: “We are dedicated to working in a spirit of partnership with the Government of Ghana and our host communities to ensure Ewoyaa becomes a flagship project for the country and the region.”
“While current lithium prices present headwinds, we believe that through collaboration and prudent fiscal measures, we can advance Ewoyaa to production and deliver lasting value for all stakeholders.”
Last Updated on April 30, 2025 by Senel Media
