Resignation Announcement

Edward Nana Yaw Koranteng, former Chief Executive Officer (CEO) of the Minerals Income Investment Fund (MIIF), has stepped down from his role as an Independent Non-Executive Director at Atlantic Lithium. His resignation comes amid organizational changes and challenges facing the company.

Koranteng’s Role and Contribution

Koranteng joined the board of Atlantic Lithium in May 2024, following MIIF’s $5 million investment in the company. This was part of a larger funding initiative aimed at advancing the Ewoyaa Lithium Project, one of Ghana’s first major lithium mining ventures. His role aligned with MIIF’s strategy to support Atlantic Lithium’s growth.

Koranteng’s extensive background in banking and law made him an invaluable asset to the board. Before joining MIIF, he worked with Ghana International Bank and Chase Bank Group, focusing on energy and mining. He also co-founded Koranteng & Koranteng Legal Advisors and served on several corporate boards, including Asante Gold Corporation.

Challenges at Atlantic Lithium

Atlantic Lithium faces a series of challenges. The company has experienced delays in obtaining the ratification of the Ewoyaa Mining Lease. In addition, falling lithium prices have impacted its financial stability. As a result, Atlantic Lithium has reduced its workforce to reallocate resources to critical operational areas.

Despite these setbacks, the company remains optimistic about the long-term prospects for lithium. It continues to refine technical studies and secure contracts as it works towards its Final Investment Decision (FID). Atlantic Lithium also hopes that the political situation in Ghana will stabilize after the upcoming elections, leading to a clearer regulatory path.

Looking Ahead

Atlantic Lithium is focused on advancing its project despite current difficulties. The company plans to continue its work on securing necessary regulatory approvals and exploring new opportunities within the lithium market.

There has been no official statement from Koranteng regarding his resignation.

Get more news from: AU TV