Ghana’s lands ministry has cleared China’s Zhejiang Huayou Cobalt to take control of the companies behind the Ewoyaa lithium project, allowing two linked deals to complete on 26 October. Huayou paid Elevra Lithium about $71 million for its 22.5% interest and offtake rights, and will now fund alone up to $66 million of development costs to raise its stake to 50%. Parliament ratified the mining lease in March, and Elevra agreed in May to sell out to focus on North America. With a funder in place, project operator Atlantic Lithium can move towards building Ghana’s first lithium mine, whose spodumene concentrate would feed a Chinese battery-materials group. Huayou’s separate bid for all of Atlantic Lithium is still pending.
Sources
- Atlantic Lithium (RNS): https://www.tradingview.com/news/reuters.com,2026-10-26:newsml_RSZ4051Aa:0-reg-atlantic-lithium-ltd-completion-of-novation-agreement/
- Elevra Lithium (GlobeNewswire): https://www.manilatimes.net/2026/10/26/tmt-newswire/globenewswire/elevra-lithium-completes-sale-of-ewoyaa-project-interest/2454155
- Graphic Online: https://www.graphic.com.gh/business/business-news/huayou-takes-charge-at-ewoyaa-as-ghanas-first-lithium-mine-edges-closer.html
- Agence Ecofin: https://www.agenceecofin.com/actualites-industries/2610-142743-lithium-le-chinois-zhejiang-huayou-acte-son-entree-dans-le-projet-de-la-1ere-mine-du-ghana
- Elevra Lithium: https://finviz.com/news/398044/elevra-lithium-provides-ewoyaa-sale-update