Atlantic Lithium (ASX: A11) has halted operations at its Ewoyaa lithium project in Ghana following a fatal accident earlier this week.
The Australian company stated that authorities have been notified and an investigation is underway to determine the circumstances surrounding the incident.
Ewoyaa is poised 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 owned by US-based Piedmont Lithium (NASDAQ, ASX: PLL), Atlantic’s second-largest shareholder, which has agreed to provide most of the funding for constructing 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. According to the company, this would make Ewoyaa the world’s 10th-largest lithium project.
Shares of Atlantic Lithium fell by 5% as of 5 p.m. BST. The company has a market capitalization of £123 million ($156 million).
