Avalon gets $2.5 million from Sibelco to advance non-JV projects
The companies are partners on the Separation Rapids lithium project in Kenora, Ontario, which is currently in the drilling stage.
Atlantic Lithium (ASX: A11) has halted activity at its Ewoyaa lithium project in Ghana following a fatal accident earlier this week.
According to the Australian company, authorities have been notified and an investigation is underway to establish the circumstances that led to the incident.
Ewoyaa is set to become Ghana’s first lithium operation, after Atlantic secured a 15-year permit for the project in October last year.
Half of the lithium produced at Ewoyaa will be sent to a refinery of US-based Piedmont Lithium (NASDAQ, ASX: PLL), which is Atlantic’s second-largest shareholder and has agreed to provide most of the funds for building the mine.
Atlantic aims to produce a total of 3.6 million tonnes of spodumene concentrate, or 350,000 tonnes annually, over 12 years from the site. That would make it the world’s 10th-largest lithium project, according to the company.
Shares of Atlantic Lithium fell 5% by 5 p.m. BST. The lithium developer has a market capitalization of £123 million ($156 million).
