Key Minerals of the African Continent: Atlantic Lithium Seeks Partners to Explore in Côte d'Ivoire
¬ Australian Atlantic Lithium reported that it has discovered "impressive lithium anomalies" in its Rubino and Agboville licenses in Côte d'Ivoire, and is currently seeking partners to accelerate exploration
¬ The company has hired a professional consultant to identify non-dilutive financing schemes, including project-level investments
¬ Despite strong long-term demand prospects, the global lithium market faces oversupply, pushing prices to their lowest levels since 2021.
The Australian-based Atlantic Lithium company stated on Monday that it has discovered "impressive soil lithium anomalies" in its exploration licenses at Rubino and Agboville in Côte d'Ivoire, and plans to attract partners to expedite the exploration work.
In May 2025, lithium-bearing spodumene pegmatites were found in both mining areas, which are rocks rich in lithium. Latest soil sampling analysis confirmed that these areas have high potential for lithium mineral development.
In Rubino, lithium-rich areas now extend about 6 kilometers long and 2.5 kilometers wide, with several promising geological structures requiring field validation. In Agboville, samples showed lithium concentrations over a 5-kilometer range, with outcrops containing lithium feldspar fragments nearby.
The company is pleased to announce that impressive soil lithium anomalies were discovered in the soil sampling conducted within the exploration license area in Côte d'Ivoire.
Atlantic Lithium said it will continue geological mapping and rock sampling to determine the next phase drilling plan. To speed up progress, the company has engaged a consultant to seek non-dilutive financing schemes, such as joint ventures or direct project investments. Through such cooperative models, partners can obtain project shares rather than company equity, thus providing financial support for exploration work.
Lithium Market Background
Lithium is a key metal for the global energy transition, used in electric vehicle batteries and renewable energy storage systems. The International Energy Agency (IEA) expects global demand to exceed supply by over 40% by 2035, even if all announced mining projects come into operation.
However, the short-term outlook remains challenging. Since early 2024, global supply has exceeded demand, causing a significant drop in prices. Fastmarkets estimates that global lithium production increased by 22% in 2024, and will maintain a similar growth rate until 2026, adding about 260,000 tons of lithium carbonate this year.
According to Investing News Network, the price of battery-grade lithium carbonate fell to $8,329 per ton in June 2025, the lowest level since 2021. Fastmarkets stated that the price of another key component of batteries, lithium hydroxide, has dropped nearly 89% since 2022.
Industry Impact
Price drops and cautious investor sentiment are delaying project financing decisions across the industry. Atlantic Lithium's flagship Ewoyaa lithium project in Ghana is also facing similar challenges, with final investment approval postponed.
Despite the short-term obstacles, the company remains confident that long-term demand driven by electrification and renewable energy will support its expansion in West Africa.
Sources: ecofinagency
Original: www.toutiao.com/article/1846519893223433/
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