Huayou Cobalt has committed to take over the remaining development financial obligations of Ghana’s Ewoyaa Lithium Project.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd

Chinese battery materials giant Zhejiang Huayou Cobalt has agreed to take over the remaining development funding obligations for Ghana’s Ewoyaa Lithium Project while simultaneously pursuing a proposed $210 million takeover of Atlantic Lithium.

The move represents a major shift in the financing structure of the Ewoyaa project and significantly improves funding certainty as Atlantic Lithium works toward a final development pathway.

Under agreements announced by both companies, Huayou will acquire all of Elevra Lithium’s rights and obligations relating to Ewoyaa and Atlantic Lithium’s broader portfolio for about $70 million, subject to regulatory approvals and other closing conditions.

Source: newsthemegh.com