Huayou Cobalt to Acquire African Lithium Asset for RMB 1.43 Billion

[Resource Portfolio] Huayou Cobalt plans to acquire 100% equity of Atlantic Lithium for USD 210 million (approximately RMB 1.43 billion) to strengthen its lithium resource position in Africa.

Key Development: Ghana’s Ewoyaa Lithium Project as Core Asset

Atlantic Lithium’s core asset is the Ewoyaa lithium project located in Ghana, with total resources of 36.8 million tonnes under JORC standards, equivalent to 1.127 million tonnes of lithium carbonate equivalent (LCE), of which proven + indicated resources account for over 80%.

Strategic Rationale: Enhancing Lithium Self-Sufficiency and Supply Chain Resilience

This acquisition marks a critical step in Huayou Cobalt’s strategy of “Overseas Resources – Global Manufacturing – Worldwide Markets,” aiming to solidify control over upstream resources and mitigate market volatility risks as lithium carbonate futures prices approach RMB 200,000 per tonne.