Atlantic Lithium launches a $9m placing to fund Ghana’s first lithium mine

Atlantic Lithium has launched an A$9 million (£4.6m) equity placement to advance its Ewoyaa Lithium Project in Ghana, aiming to establish the country's first lithium mine.

The placement, priced at A$0.23 per share, has backing from major shareholder Assore International Holdings, committing up to US$5 million.

This fundraising follows key regulatory approvals, and proceeds will support the project’s progression towards the Final Investment Decision (FID).

The Ewoyaa project aims to produce 365,000 tonnes of lithium concentrate annually over 12 years, with a total development cost of US$185 million. Canaccord Genuity is leading the placement.