Read Time: 2 minutes
Ghana is set to become the first West African lithium producer as two firms have signed an agreement
to fast-track the project. This follows a conditional binding agreement that IronRidge Resources has
entered with Piedmont Lithium to fully fund and accelerate the Ewoyaa Lithium Project to production.
The conditional binding and definitive agreements entered into with Piedmont is to explore the Ewoyaa
Lithium Project in the Central region.
AScoping Study at Ewoyaa, announced in January 2021, supports a business case for 2.0 Mtpa
production operation with LOM revenues exceeding $1.55 billion, with significant potential to extend
LOM”, Mining Review stated.. Vincent Mascolo, CEO of IronRidge, said: “with Piedmont’s established
relationships with US based automakers, this is an outstanding opportunity for IronRidge to fully fund its
industry-leading Ewoyaa Lithium Project through to production.”
“With the support and investment of Piedmont, along with the African mining expertise of IronRidge’s
major shareholder Assore Limited, we look forward with great excitement to developing this industry
leading asset”. “Piedmont is developing a world-class integrated lithium business in the U.S. and will
bring vast experience and expertise to the partnership as we prepare to fast-track Ewoyaa to
production. This pathway to production transaction removes funding risks for IronRidge and its
shareholders at a time where surety of supply to the enormous and rapidly growing North American EV
and stored energy industry sectors is paramount”, he pointed out.
“We consider Ewoyaa to be among one of the world’s most promising spodumene projects, leveraging
existing world class infrastructure including directly adjacent HV power, a major highway within 1 km of
the site, and the major port of Takoradi less than 2 hours’ drive away.” “Few hard-rock lithium projects
worldwide can boast the proximity to existing operational infrastructure, lithium grade and a simple
Dense Media Separation-only process route that will require very low upfront capital expenditure.
Uses of lithium
The most important use of lithium is in rechargeable batteries for mobile phones, laptops, digital
cameras and electric vehicles. Itis also used in some non-rechargeable batteries for things like heart
pacemakers, toys and clocks.
Lithiumand its compounds also have several industrial applications, including heat-resistant glass and
ceramics, lithiumgrease lubricants, flux additives for iron, steel and aluminium production.