Atlantic Lithium awards US$1m engineering contract to Primero to advance Ewoyaa Project in Ghana
( ), an Africa-focused lithium explorer, announced the award of a processing plant FEED contract for its Ewoyaa Lithium Project in Ghana to Primero Group.
Primero is a wholly-owned subsidiary of NRW Holdings that specialises in the design, construction, and operation of global resource projects. Atlantic said Primero will provide services to optimise Ewoyaa's flow sheet, identify long lead items, reduce execution risk, and overall maximise the project's long-term profitability.
The value of the contract is US$980k, the consideration of which is to be paid in accordance with a 3-stage earn-in agreement Atlantic has with Piedmont Lithium to fund Ewoyaa towards production.
Atlantic also announced the appointment of Roux Terblanche as Project Manager with immediate effect. Terblanche has 25+ years of experience across domestic and international mining, including in the lithium sector and in West Africa.
Neil Herbert, CEO of Atlantic Lithium, commented:
"We are thrilled to take the next significant step towards becoming a lithium producer by awarding the FEED contract to Primero. Primero is an industry leader in engineering and construction in the lithium sector, as proven by their technical expertise, quality and efficient delivery across an extensive portfolio of projects around the world. Primero's involvement invites a fast-tracked programme and significantly reduces execution risk and, therefore, will be highly valuable to the Company."
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With Primero contracted to advance Ewoyaa and the appointment of a highly experienced new project manager, Atlantic has put the project on a fast track to production, with an updated mineral resource estimate expected in 1Q 2023, followed by a definitive feasibility study by mid-2023.
Primero has extensive experience delivering large-scale construction contracts. The company has provided services for a number of lithium projects with comparable flow sheets to Ewoyaa's, including Bald Hill (Tawana Resources), Pilgangoora (Pilbara Minerals), Finnus Lithium (Core Lithium), Mt Holland (Covalent Lithium), and Xuxa (Sigma Lithium).
Atlantic stock remains up 34% YTD as investors have supported the company's aggressive schedule to production. With demand for lithium and critical metals on the rise, we recommend investors interested in renewable energy Atlantic Lithium as the company and its partner work to deliver Ghana's first lithium mine.
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