Atlantic Lithium Limited, a major player in the exploration of lithium, has expressed concerns that ongoing delays in parliamentary ratification of its lease agreement are severely impacting its ability to retain employees and fulfil its fiscal obligations to the country.
The company warns that without timely approval, its contributions to the economy could be hindered.
This comes at a time when global lithium prices are experiencing a downturn.
Speaking to Citi Business News during the West Africa Mining Security Conference, hosted by the Australian High Commission in Ghana, on Tuesday, October 1, Amanda Harsas, Finance Director of Atlantic Lithium, remained hopeful.
She anticipates that once Parliament reconvenes on October 15, the final approval will be expedited to secure the company’s future in the region.
“We have had the mining lease for nearly 12 months so it’s been disappointing that it is the actual ratification of Parliament has taken this long,” she said.
“Unfortunately, we have had to cut our staff and our spending because of that delay and it is going to cause a delay to the project and getting into production and getting the benefits for Ghana more particularly the locals in the central region and the fiscal benefits of the mining lease,” she explained.
Amanda Harsas added: “So we hope that Parliament coming back in October we get ratified and get on with the project.’
Citi Business News understands that the ratification was delayed as lawmakers sought broader consultation, aiming to avoid repeating mistakes made during approvals of new gold mining projects.
The Environmental Protection Agency of Ghana has confirmed the Atlantic Lithium Limited project’s environmental impact assessment, which addressed feedback from both the EPA and local communities.
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