Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) said on Wednesday it is ready to begin construction at its Ewoyaa Lithium Project in Ghana, with all key permits now in place and only final parliamentary ratification outstanding.
The company described this as the last major hurdle before groundworks can start at what would be the country’s first lithium mine.
During the March quarter, the project secured its Water Use Permit from Ghana’s Water Resources Commission, a critical step that allows the extraction of water for operational use.
In parallel, the company continued to work through additional compliance tasks laid out by the Environmental Protection Authority to ensure all requirements are met ahead of site development.
CEO Neil Herbert said: "We look forward to securing ratification in line with due parliamentary process, together with additional fiscal assistance from the government, which represents a key milestone on the Company's path to achieving first production of lithium in Ghana."
Atlantic also upgraded its estimate for feldspar resources at Ewoyaa to 36.8 million tonnes, underlining the site’s potential to deliver valuable by-products alongside spodumene concentrate, the main source of lithium. Feldspar is commonly used in ceramics and glass manufacturing, offering an extra commercial stream for the project.
Beyond Ghana, exploration in Côte d’Ivoire also advanced, with thousands of soil samples collected across the company’s Agboville and Rubino licences. Analysis of the data is now underway, feeding into Atlantic’s longer-term pipeline of prospects.
To support its project-focused strategy, the company said it has implemented cost-saving measures across the business during the financial year.
Cash at the end of the March quarter stood at A$8.1 million, a level Atlantic said allows it to continue progressing towards a final investment decision without needing immediate new funding.
While parliamentary approval remains the final box to tick, Atlantic’s message to the market is that it is effectively shovel-ready.