Elevra Lithium to Receive US$71M from Sale of Ghana’s Ewoyaa Project Stake
Elevra Lithium will sell its 100% interest in the Ghanaian Ewoyaa Project to Zhejiang Huayou Cobalt for US$71 million, with closing expected by end of Q1 FY27. The sale eliminates Elevra’s development funding obligations and offtake rights, simplifies its joint venture structure and frees resources to advance core North American lithium assets.
1. Sale Agreement Terms
Elevra Lithium has entered into an agreement to sell its entire interest in the Ewoyaa lithium project in Ghana to Zhejiang Huayou Cobalt for approximately US$71 million. The divestment includes all of Elevra’s offtake rights and is not contingent on any related transactions involving Atlantic Lithium’s stake in the project.
2. Strategic and Operational Benefits
By divesting Ewoyaa, Elevra removes the need for further capital contributions and complex joint venture arrangements in Ghana. This transaction streamlines its asset portfolio and allows management to concentrate on accelerating development of its North American lithium operations.
3. Expected Timeline and Next Steps
The sale is expected to close by the end of Q1 FY27, pending regulatory approval in Ghana. Proceeds will bolster Elevra’s balance sheet flexibility and fund advancement of its core lithium projects in Québec, the United States and Western Australia.