Ghana’s Local Value Addition Drive

The Ewoyaa project is a key example of Ghana’s strategy to capture more value from its green minerals sector. Operated by Atlantic Lithium’s subsidiary Barari DV Ghana, the mine contains an estimated 34–40 million tons of lithium-bearing ore, with projected annual output of approximately 360,000 tons. Piedmont Lithium currently holds a 22.5% stake in the project, with the option to increase its holding to 50% to secure supply for the U.S. market.

Ghana’s 2023 Green Minerals Policy has reshaped the sector, increasing royalty rates, expanding state participation, mandating local value addition and requiring companies to list shares on the local stock exchange. Atlantic Lithium is expected to float shares on the Ghana Stock Exchange, while the state-owned Minerals Income Investment Fund has pledged up to $30 million to support the project. The mining lease also includes a Community Development Fund, which allocates 1% of revenues toward education, health and agriculture, and establishes commitments to explore local refining options. Civil society groups and opposition lawmakers have called for stronger value-addition requirements, higher royalties and mechanisms to capture windfall profits when global prices rise.

Lithium Market Outlook and Ghana’s Timing

From a market standpoint, global demand for lithium is expected to surge, with the International Energy Agency projecting a thirteenfold increase by 2040, driven largely by battery production, which is expected to account for 80% of total consumption. This growth positions new producers such as Ghana to integrate into global lithium supply chains at a critical moment in the energy transition. The Ewoyaa project represents a timely entry into a fast-maturing market where reliable new supply is in high demand.

At the same time, softer lithium prices in the near term have added pressure on project economics. Atlantic Lithium has requested fiscal concessions, including adjustments to royalty rates and corporate income tax, to safeguard the project’s long-term viability and competitiveness. Securing favorable terms at this stage is considered critical to enabling Ghana’s first lithium mine to move forward while aligning with the broader market cycle.

African Mining Week 2025, held alongside African Energy Week: Invest in African Energies in Cape Town from October 1–3, will provide a platform to explore Africa’s green minerals sector, including lithium. The event will highlight how countries such as Ghana are working to balance fiscal policy, community benefits and investment incentives to create an enabling environment for large-scale projects. As global lithium demand accelerates, collaboration between governments, investors and local communities will be key to ensuring Africa captures a greater share of value in the energy transition.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.