Atlantic Lithium says it is confident of getting mining lease in Ghana

(This Aug. 7 story has been corrected to remove incorrect paragraph on Piedmont’s supply to Tesla relying partly on Atlantic’s Ghana operations, and to change 2011 to 2021 in paragraph 3)

(Reuters) – Atlantic Lithium said on Monday the Africa-focused company was confident of getting a lease for a lithium mine in Ghana following the approval of a green minerals policy by the country’s government.

The company said the new policy included “changes to the mining royalty rate and the state’s carried interest in minerals projects” and that Atlantic Lithium was in talks with Ghana’s Minerals Commission.

In 2021, Piedmont Lithium invested $100 million in the company to secure spodumene, or high-purity lithium ore, from Atlantic Lithium’s mine in Ghana.

In March, short seller Blue Orca Capital alleged Atlantic Lithium obtained key Ghana mining licenses by making secret payments. The company had rejected the allegations.

(Reporting by Seher Dareen in Bengaluru; Editing by Shounak Dasgupta)