- IronRidge is set to fund the production of lithium in Ghana.
- The Ewoyaa Lithium Project could produce 2 million tonnes per annum.
IronRidge Resources has signed an agreement with Piedmont Lithium to develop the Ewoyaa Lithium Project. A Scoping Study carried out at Ewoyaa indicated that about 2.0 Mtpa could be produced from the site with potential mine lifetime revenues of overUS$1.55 billion.
Vincent Mascolo, CEO of IronRidge, noted that Piedmont’s established relationships with US-based automakers present an opportunity for IronRidge to fund the Ewoyaa Lithium Project through to production. In addition, the rapidly growing EV and energy storage industries provide a huge incentive for IronRidge and its shareholders to fund the transaction.
Keith Phillips, CEO of Piedmont, stated that “Piedmont is delighted to be partnering with IronRidge to develop its outstanding Ewoyaa Lithium Project in Ghana. “We consider Ewoyaa to be among one of the world’s most promising spodumene projects, leveraging existing world-class infrastructure including directly adjacent HV power, a major highway within 1 km of the site, and the major port of Takoradi less than 2 hours’ drive away. “As a Company seeking to support the production of lithium and accelerate the transition to a sustainable future, we look forward to providing a pathway to production at this industry-leading project.”