Chinas Huyo acquires rights to a lithium project in Ghana, undertakes a financing commitment of 66 million dollars Chinas Zhejiang Huyo Cobalt has completed the purchase of Elevra Lithiums rights in the Ghana Avia lithium project, while receiving rights to 22.5% of Atlantic Lithium's Ghanaian lithium portfolio, including it traveled, and a commitment to finance up to 66 million dollars in development expenses. As part of the existing project agreements, Hoyo will provide up to 66 million dollars in standing expenditure under an exclusive financing commitment of 70 million dollars. Subject to these agreements, the financing will earn Hoyo an additional 27.5% interest in the Atlantic Lithium defamation case, taking its total interest to 50%. The following development costs will be divided equally between the partners. The completed project deal comes as Huyo pursues a separate acquisition of Atlantic Lithium, valued at about $210 million, or about $0.25 per share in cash, under an agreement announced in May. Huayu chairman and president Chen Hongliang said at the time that the deal "complements our existing battery metal mining operations in Africa." The proposed takeover would give Huayo control of Atlantic Lithium itself, potentially consolidating the private sector interests in Huayo currently covered by the joint venture arrangements. It was set to become Ghana's first commercial lithium mine, producing spodumene concentrate for further processing into lithium chemicals used in rechargeable batteries. Ghana's parliament approved the projects' mining lease in March 2026, the first lithium mining lease to be awarded and approved in the country, following the issuance of environmental and mine operating permits in 2024. The Aboyas development comes as Ghana prepares restrictions on exports of unprocessed minerals until 2030.

Chinas Huyo acquires rights to a lithium project in Ghana, undertakes a financing commitment of 66 million dollars Chinas Zhejiang Huyo Cobalt has completed the purchase of Elevra Lithiums rights in the Ghana Avia lithium project, while receiving rights to 22.5% of Atlantic Lithium's Ghanaian lithium portfolio, including it traveled, and a commitment to finance up to 66 million dollars in development expenses. As part of the existing project agreements, Hoyo will provide up to 66 million dollars in standing expenditure under an exclusive financing commitment of 70 million dollars. Subject to these agreements, the financing will earn Hoyo an additional 27.5% interest in the Atlantic Lithium defamation case, taking its total interest to 50%. The following development costs will be divided equally between the partners. The completed project deal comes as Huyo pursues a separate acquisition of Atlantic Lithium, valued at about $210 million, or about $0.25 per share in cash, under an agreement announced in May. Huayu chairman and president Chen Hongliang said at the time that the deal "complements our existing battery metal mining operations in Africa." The proposed takeover would give Huayo control of Atlantic Lithium itself, potentially consolidating the private sector interests in Huayo currently covered by the joint venture arrangements. It was set to become Ghana's first commercial lithium mine, producing spodumene concentrate for further processing into lithium chemicals used in rechargeable batteries. Ghana's parliament approved the projects' mining lease in March 2026, the first lithium mining lease to be awarded and approved in the country, following the issuance of environmental and mine operating permits in 2024. The Aboyas development comes as Ghana prepares restrictions on exports of unprocessed minerals until 2030.