• Australia’s Atlantic Lithium reported “impressive lithium anomalies” on its Rubino and Agboville licenses in Côte d’Ivoire and is seeking partners to accelerate exploration.
• The company hired a specialist adviser to identify non-dilutive funding options, including project-level investments.
• Despite strong long-term demand prospects, the global lithium market faces oversupply, pushing prices to their lowest since 2021.

Australia-based Atlantic Lithium Ltd. said Monday it discovered “impressive lithium-in-soil anomalies” on its Rubino and Agboville exploration licenses in Côte d’Ivoire, and plans to attract partners to speed up exploration work.

The announcement follows the May 2025 discovery of spodumene-bearing pegmatites—rocks rich in lithium—on both sites. Recent soil sampling and analysis have confirmed strong lithium potential.

At Rubino, the lithium-rich zone now extends roughly six kilometers long and 2.5 kilometers wide, with several promising geological alignments requiring field verification. At Agboville, samples show lithium concentrations over a five-kilometer stretch, alongside nearby outcrops containing spodumene fragments.

The Company is pleased to announce the delineation of impressive lithium-in-soil anomalies from soil sampling completed across its exploration licences in Côte d’Ivoire.

Read in full: https://t.co/yKDsut9GOn#ALL #A11 $A11 #ALLGH $ALLIF #Lithium #Ghana #CôtedIvoire #Mining pic.twitter.com/F8CdUzbsGG

— Atlantic Lithium (@AtlanticLithium) October 20, 2025

Atlantic said it will continue mapping and rock sampling to define the next drilling campaign. To speed up the process, the company has appointed an adviser to secure non-dilutive financing, such as joint ventures or direct project investments. These arrangements would allow a partner to fund exploration in exchange for a project stake rather than company equity.

Lithium Market Context

Lithium, a critical metal for the global energy transition, is used in electric vehicle batteries and renewable energy storage systems. The International Energy Agency (IEA) projects global demand will outstrip supply by up to 40% by 2035, even with all announced mining projects coming online.

However, the short-term outlook remains challenging. Since early 2024, global supply has outpaced demand, driving prices sharply lower. Fastmarkets estimates that global lithium mining output rose 22% in 2024 and will grow at a similar pace through 2026, adding about 260,000 tonnes of lithium carbonate this year.

According to Investing News Network, battery-grade lithium carbonate prices fell to $8,329 per tonne in June 2025, their lowest since 2021. Lithium hydroxide prices, another key battery component, have plunged by nearly 89% since 2022, Fastmarkets said.

Industry Impact

Falling prices and cautious investor sentiment are delaying project financing decisions across the sector. Atlantic Lithium has faced similar challenges with its flagship Ewoyaa lithium project in Ghana, where final investment approval has been postponed.

Despite near-term headwinds, the company remains confident that long-term demand driven by electrification and renewable energy will support its expansion in West Africa.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange Jason Quenum