By Benjamin Nii Nai Anyetei
Atlantic Lithium Limited has ended takeover discussions as it awaits Ghanaian Parliamentary ratification of the Mining Lease for its Ewoyaa Lithium Project, a move that positions Ghana’s approval process as central to the company’s valuation outlook.
In a corporate update published on the Ghana Stock Exchange on February 23, 2026, the company confirmed it had received a conditional, non-binding proposal for the acquisition of 100% of its shares. However, exclusivity and negotiations have now ended without an agreement, with the Board noting that the offer did not fully reflect the project’s value potential, particularly while the Mining Lease remains under Parliamentary consideration.
Atlantic Lithium views Parliament’s ratification of the Mining Lease as a key de-risking milestone. Ghana’s Parliament reconvened on February 3, 2026, and the Committee on Lands and Natural Resources met on February 12 to review the Lease. The company, however, has yet to receive formal confirmation regarding the timing or outcome of the ratification. Approval would remove a major legal hurdle for what is expected to become Ghana’s first lithium-producing mine, positioning the country as a player in the global electric vehicle and battery supply chain.
The decision to end takeover talks coincides with a sharp rebound in lithium prices. Spodumene concentrate prices have risen from approximately US$800 per tonne in mid-October 2025 to around US$1,900 per tonne as of February 19, 2026, reflecting increased demand from electric vehicle and battery energy storage markets. Atlantic Lithium believes the improved market sentiment enhances the long-term economics of Ewoyaa and strengthens future value creation beyond what the takeover proposal reflected.
Beyond Ewoyaa, Atlantic Lithium holds 509 square kilometres of granted and under-application tenure in Ghana and 771 square kilometres in Côte d’Ivoire. While exploration has been slowed to conserve capital, the Board maintains that the wider portfolio remains prospective for further lithium discoveries.
With trading on the Australian Securities Exchange set to resume after a temporary halt, investor attention is now focused on Parliament’s decision, which could shape both Atlantic Lithium’s future and Ghana’s entry into the global lithium production landscape.
