Elevra receives 71 million US dollars as Ewoyaa disposal completes
Elevra Lithium completed the sale of all its Ewoyaa lithium project interests in Ghana to Zhejiang Huayou Cobalt. It received 71 million US dollars before fees and taxes after government approvals. The disposal includes spodumene offtake rights and removes its remaining development funding obligation. Elevra says the transaction increases flexibility to advance its North American lithium assets.
Economics & Markets··Evening
Ewoyaa interests transfer to Huayou
Elevra Lithium completed the transfer of its rights and interests in Ghana’s Ewoyaa lithium project to Zhejiang Huayou Cobalt after the required government approvals. Atlantic Lithium also confirmed completion of the agreement transferring Elevra’s project rights and obligations to Huayou.[1], [2]
Elevra received 71 million US dollars before taxes and transaction fees. The disposal covers all its Ewoyaa interests, including rights to buy spodumene concentrate from the project. It also removes the company’s remaining obligation to fund development.[1]
Sale proceeds support North American plans
Chief executive Lucas Dow said the disposal simplified Elevra’s portfolio and increased financial flexibility. The company plans to advance expansion of its existing North American Lithium operation, development of the Moblan lithium project and other growth projects. It has lithium assets in Québec and the United States.[1]
Atlantic Lithium proposal is a separate transaction
Huayou is separately progressing a proposed acquisition of Atlantic Lithium, which holds the remaining private-sector interest in Ewoyaa. Elevra’s completed sale was not conditional on that acquisition proceeding. Elevra also recently agreed to supply LG Energy Solution with 240,000 dry tonnes of spodumene concentrate over three years from North American Lithium.[1]
