Ghana Issues Mining Lease for Ewoyaa Project
24 10월 2023 - 7:50PM
Business Wire
- Piedmont JV project receives historic first lithium mining
lease from the Government of Ghana
- Mining lease provides rights to mining and commercial
production for an initial 15-year period
- Ewoyaa Lithium Project poised to become a major producer of
spodumene concentrate
- Ewoyaa expected to provide most of the feedstock for Piedmont’s
lithium hydroxide plant in Tennessee
Piedmont Lithium (“Piedmont” or the “Company”) (Nasdaq: PLL;
ASX: PLL), a leading global supplier of lithium resources
critical to the U.S. electric vehicle supply chain, today announced
that Ghana’s Ministry of Lands and Natural Resources has granted a
mining lease for the Ewoyaa Lithium Project (“Ewoyaa” or the
“Project”), which is being developed by Piedmont and its partner,
Atlantic Lithium Limited (“Atlantic Lithium”).
The mining lease provides exclusive rights to carry out lithium
mining and commercial production activities for an initial 15-year
period and is renewable in accordance with Ghanaian legislation.
The issuance of the mining lease is subject to ratification by the
Ghanaian parliament and follows last month’s announcement by the
Minerals Income Investment Fund of Ghana (“MIIF”) of its plans to
invest (1) $27.9 million to acquire a 6% stake in Ewoyaa and (2) an
additional $5 million in Atlantic Lithium to help further, in part,
the development of Ewoyaa. Prior to starting construction, an
approval by the Environmental Protection Agency of Ghana also will
be required. Atlantic Lithium expects the Ewoyaa permitting process
to be finalized in H2 2024.
Piedmont Lithium Chief Operating Officer and Atlantic Lithium
Non-Executive Director Patrick Brindle said receipt of the mining
lease marks a significant step toward production and reflects
Ghana’s interest in becoming a global resource for lithium
concentrate. “We are excited for our partner Atlantic Lithium, and
we thank the project team and the Minerals Commission for their
diligent efforts throughout the application process. The issuance
of Ghana’s first mining lease for lithium demonstrates clear
support for the Ewoyaa Lithium Project and the opportunity it
presents for the country and local communities,” said Brindle.
“This milestone also reinforces Piedmont’s plans to utilize Ewoyaa
material as feedstock for the proposed 30,000 metric ton per year
Tennessee-based lithium hydroxide conversion facility.”
Piedmont owns a 9% equity interest in Atlantic Lithium, and in
August announced that it exercised its option to acquire an initial
22.5% interest in Ewoyaa, subject to government approvals. Piedmont
has a right to earn an additional 27.5% interest in the Project,
subject to satisfying certain funding requirements, which would
result in Piedmont and Atlantic Lithium each owning 50% of Ewoyaa,
exclusive of the expected MIIF investment and the Ghanaian
government’s carried interest. Piedmont also holds an offtake
agreement to purchase 50% of lithium concentrate production at
Ewoyaa on a market-based pricing mechanism for the life of the
mine.
About Piedmont Lithium
Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL) is developing a
world-class, multi-asset, integrated lithium business focused on
enabling the transition to a net zero world and the creation of a
clean energy economy in North America. Our goal is to become one of
the largest lithium hydroxide producers in North America by
processing spodumene concentrate produced from assets where we hold
an economic interest. Our projects include our Carolina Lithium and
Tennessee Lithium projects in the United States and partnerships in
Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic
Lithium (AIM: ALL; ASX: A11). These geographically diversified
operations will enable us to play a pivotal role in supporting
America’s move toward energy independence and the electrification
of transportation and energy storage. For more information, follow
us on Twitter @PiedmontLithium and visit
www.piedmontlithium.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of or as described in securities legislation in the
United States and Australia, including statements regarding
exploration, development construction and production activities of
Sayona Mining, Atlantic Lithium and Piedmont; current plans for
Piedmont’s mineral and chemical processing projects; Piedmont’s
potential acquisition of an ownership interest in Ewoyaa; and
strategy. Such forward-looking statements involve substantial and
known and unknown risks, uncertainties, and other risk factors,
many of which are beyond our control, and which may cause actual
timing of events, results, performance or achievements and other
factors to be materially different from the future timing of
events, results, performance, or achievements expressed or implied
by the forward-looking statements. Such risk factors include, among
others: (i) that Piedmont, Sayona Mining or Atlantic Lithium may be
unable to commercially extract mineral deposits, (ii) that
Piedmont’s, Sayona Mining’s or Atlantic Lithium’s properties may
not contain expected reserves, (iii) risks and hazards inherent in
the mining business (including risks inherent in exploring,
developing, constructing and operating mining projects,
environmental hazards, industrial accidents, weather or
geologically related conditions), (iv) uncertainty about Piedmont’s
ability to obtain required capital to execute its business plan,
(v) Piedmont’s ability to hire and retain required personnel, (vi)
changes in the market prices of lithium and lithium products, (vii)
changes in technology or the development of substitute products,
(viii) the uncertainties inherent in exploratory, developmental and
production activities, including risks relating to permitting,
zoning and regulatory delays related to our projects as well as the
projects of our partners in Quebec and Ghana, (ix) uncertainties
inherent in the estimation of lithium resources, (x) risks related
to competition, (xi) risks related to the information, data and
projections related to Sayona Mining or Atlantic Lithium, (xii)
occurrences and outcomes of claims, litigation and regulatory
actions, investigations and proceedings, (xiii) risks regarding our
ability to achieve profitability, enter into and deliver product
under supply agreements on favorable terms, our ability to obtain
sufficient financing to develop and construct our projects, our
ability to comply with governmental regulations and our ability to
obtain necessary permits, and (xiv) other uncertainties and risk
factors set out in filings made from time to time with the U.S.
Securities and Exchange Commission (“SEC”) and the Australian
Securities Exchange, including Piedmont’s most recent filings with
the SEC. The forward-looking statements, projections and estimates
are given only as of the date of this press release and actual
events, results, performance and achievements could vary
significantly from the forward-looking statements, projections and
estimates presented in this press release. Readers are cautioned
not to put undue reliance on forward-looking statements. Piedmont
disclaims any intent or obligation to update publicly such
forward-looking statements, projections, and estimates, whether as
a result of new information, future events or otherwise.
Additionally, Piedmont, except as required by applicable law,
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of Piedmont, its
financial or operating results or its securities.
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version on businesswire.com: https://www.businesswire.com/news/home/20231024107717/en/
Erin Sanders SVP, Corporate Communications & Investor
Relations T: +1 704 575 2549 E: esanders@piedmontlithium.com
Christian Healy/Jeff Siegel Media Inquiries E:
Christian@dlpr.com E: Jeff@dlpr.com
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