Name of the Project
Ewoyaa lithium project.

Location
Ghana.

Project Owner/s
Aim-listed lithium explorer and developer Atlantic Minerals. Piedmont has an earn-in right of 50% of Atlantic’s Ghanaian projects, including Ewoyaa, and the company holds a 10% equity interest in lithium explorer Atlantic Lithium.

Project Description
Over the 12-year life-of-mine (LoM), the project is expected to produce 3.58-million tonnes a year of 6% and 5.5% spodumene concentrate, as well as 4.7-million tonnes of secondary product as a by-product of dense dense-media separation (DMS).

Development involves the opencut mining of several lithium-bearing pegmatite deposits, conventional DMS processing and supporting infrastructure.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $1.5-billion and an internal rate of return of 105%, with a payback of 19 months.

Capital Expenditure
$185-million.

Planned Start/End Date
Production of spodumene concentrate and secondary product are targeted for the second quarter of 2025.

Latest Developments
Atlantic Lithium has announced a maiden Joint Ore Reserves Committee-compliant mineral resource estimate of 15.7-million tonnes at 40.2% feldspar for Ewoyaa, including 13.7-million tonnes at 87% feldspar in the measured and indicated categories.

The feldspar mineral resource estimate is confined to the Ewoyaa Main, Ewoyaa Northeast, Ewoyaa South-1 and Ewoyaa South-2 deposits, which constitute about the first five years of planned spodumene concentrate production at the project.

The feldspar mineral resource estimate is based on the same geological model that resulted in the 35.3-million tonnes at 1.25% lithium oxide mineral resource estimate for the project and includes 31.1% quartz and 11.7% muscovite, as additional potential by-products of spodumene concentrate production at Ewoyaa.

The maiden feldspar mineral resource estimate will be incorporated into the ongoing feldspar definitive feasibility study (DFS) being undertaken to assess the viability and prospective market conditions for the production of feldspar at Ewoyaa, with results due in the fourth quarter of next year.

The economic outcomes indicated by the DFS for the project do not consider the production of feldspar at Ewoyaa.

The definition of the feldspar mineral resource estimate, therefore, enables the inclusion of feldspar by-product credits in future revisions of the project’s economics, offering the potential to further enhance the already impressive financial outcomes expected to be delivered at Ewoyaa.

A revised feldspar resource estimate considering the life of the mine will be released after 2024.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Atlantic Minerals, tel +61 2 8072 0640 or email info@atlanticlithium.com.au.