DivestmentMay 10, 2026, 09:40 PM
Elevra Lithium Sells Ewoyaa Project Interest for US$71M
AI Summary
Elevra Lithium Ltd has entered into an agreement to sell its interest in the Ewoyaa Lithium Project in Ghana to Zhejiang Huayou Cobalt Co, Ltd. for approximately US$71 million in cash. This divestment, expected to close in Q1FY27, will allow Elevra to sharpen its strategic focus on North American assets and simplify its corporate and operational structure. The sale also eliminates ongoing funding commitments for the Ewoyaa Project and provides additional financial flexibility to advance other growth projects.
Key Highlights
- Elevra Lithium to sell its interest in the Ewoyaa Lithium Project for approximately US$71 million in cash.
- The transaction is expected to close by the end of Q1FY27, subject to Ghanaian regulatory approvals.
- The sale allows Elevra to focus on its core North American assets and simplifies its corporate structure.
- It eliminates Elevra's ongoing funding commitment for the Ewoyaa Project.
- Proceeds will provide financial flexibility to support other growth projects.
- Elevra currently owns 32,517,598 shares in Atlantic Lithium, representing approximately 4.1%.