Atlantic Lithium Limited has officially announced the resignation of Edward Nana Yaw Koranteng from his position as Non-Executive Director and Chairman of the Board’s Remuneration and Nomination Committee, effective immediately. This resignation follows his recent removal as Chief Executive Officer of the Minerals Income and Investment Fund (MIIF).
Koranteng’s departure from Atlantic Lithium is significant as he served on the company’s Board as a nominee director representing MIIF, a position established under the terms of a US$5 million subscription agreement between MIIF and Atlantic Lithium. His removal from MIIF was formalized by President John Dramani Mahama in a letter dated January 13, 2025, which was signed by Callistus Mahama, the Secretary to the President.
In light of Koranteng’s resignation, MIIF retains the right to nominate a replacement director to the Board of Atlantic Lithium, ensuring that the interests of MIIF continue to be represented within the company’s governance structure.
Neil Herbert, Executive Chairman of Atlantic Lithium, expressed his sentiments regarding Koranteng’s resignation, stating, “On behalf of the Atlantic Lithium Board and management team, I would like to extend my gratitude to Edward for his valued contributions to the company during his tenure and wish him well in his future pursuits.” His acknowledgment reflects the importance of Koranteng’s role in the company’s strategic direction and development efforts.
Atlantic Lithium is recognized as a leading lithium exploration and development company, with a strategic focus on the African continent. The company is currently advancing its flagship Ewoyaa Lithium Project located in Ghana, which is anticipated to be the country’s first lithium-producing mine. This project is crucial not only for Atlantic Lithium but also for Ghana’s emerging role in the global lithium market, which is increasingly in demand due to the rise of electric vehicles and renewable energy solutions.
The Ewoyaa Lithium Project represents a significant opportunity for Atlantic Lithium, as it aligns with the company’s commitment to sustainable resource development in West Africa. The project’s advancement is seen as essential in meeting the growing global demand for lithium while ensuring that local communities benefit from the economic opportunities generated by such developments.
Despite the leadership transition resulting from Koranteng’s resignation, Atlantic Lithium remains focused on delivering the Ewoyaa project. The company has reaffirmed its commitment to maintaining operational momentum and ensuring that all aspects of the project continue to progress effectively. This commitment underscores the resilience of Atlantic Lithium as it navigates changes in its governance structure.
In recent years, the global lithium market has experienced substantial growth, driven by the increasing adoption of electric vehicles and the need for energy storage solutions. As countries around the world pivot towards greener energy alternatives, the demand for lithium—a critical component in lithium-ion batteries—has surged. This trend positions Atlantic Lithium strategically within the industry, particularly with its focus on the Ewoyaa project, which holds the potential to meet both local and international market needs.
The importance of sustainable development practices in mining operations has never been more critical, and Atlantic Lithium is dedicated to integrating these principles into its project execution. The company has actively sought to engage with local communities and stakeholders to ensure that the benefits of its operations are shared equitably. This approach not only fosters goodwill but also enhances the overall sustainability of the mining operations in the region.
As Atlantic Lithium moves forward, the company is expected to continue its efforts in stakeholder engagement and transparency. This includes providing updates on project developments and ensuring that community concerns are addressed throughout the lifecycle of the Ewoyaa Lithium Project. The successful execution of this project will likely position Atlantic Lithium as a key player in the African lithium sector, contributing to both local economic growth and the global transition to sustainable energy solutions.
The resignation of Edward Nana Yaw Koranteng marks a pivotal moment for Atlantic Lithium as it adapts to changes in its leadership. However, the company’s strong commitment to its strategic goals and its focus on sustainable development initiatives will be crucial in navigating this transition. With MIIF retaining the right to nominate a new director, Atlantic Lithium will be able to maintain continuity in its governance while seeking to enhance its Board’s expertise and oversight capabilities.
In conclusion, Atlantic Lithium is poised to advance its Ewoyaa Lithium Project despite the recent leadership changes. The company’s focus on sustainable development, coupled with its strategic initiatives, positions it well to meet the growing demands of the lithium market. As it embarks on this next phase of growth, Atlantic Lithium remains committed to delivering value to its stakeholders and contributing to the sustainable development of the communities in which it operates.
This transition within the company, while significant, serves as an opportunity for Atlantic Lithium to reinforce its mission and continue building a foundation for long-term success in the competitive lithium market. As the company moves forward, it will undoubtedly seek to leverage its strengths and explore new opportunities for growth and development in the rapidly evolving energy landscape.
