Atlantic Lithium Limited, the Africa-focused lithium exploration and development company targeting the delivery of Ghana’s first lithium mine, has announced changes to its leadership structure and cost base as part of its ongoing cost-cutting and streamlining initiative.
Under the initiative, Neil Herbert will step down as Executive Chairman and become Non-Executive Chairman on 1 July 2025. This change reduces executive costs and strengthens Board oversight, while day-to-day management will be consolidated under Chief Executive Officer (CEO) Keith Muller.
Mr Muller, who brings over 20 years of lithium mining experience, will now lead all operational and strategic activities as the Company advances the Ewoyaa Lithium Project towards construction and production.
As part of this streamlining, • Chairman Neil Herbert’s remuneration will be reduced in line with his new Non-Executive role.
CEO Keith Muller has voluntarily accepted a temporary 10% salary reduction. The salary reduction, which will see Mr Muller receive an annual total fixed remuneration of A$427,500, will take effect from 1 July 2025 and will conclude 12 months thereafter, following which it will revert to his previous remuneration amount, unless earlier agreed by Mr. Muller and the company following Board approval.
These actions reflect Atlantic Lithium’s commitment to reduce costs and increase operational efficiency to focus resources on delivering Ghana’s first lithium mine.
Atlantic Lithium is committed to progressing Ewoyaa to production and continues to work closely with the Government of Ghana to secure terms that reflect current market conditions and maximise benefits for the country and local communities.
Chairman Neil Herbert said: “Transitioning to Non-Executive Chairman and consolidating management under Keith ensures a sharper focus on operational delivery and cost control as we move towards construction at Ewoyaa.” Keith Muller, Chief Executive Officer, added: “We are taking decisive steps to streamline our leadership and reduce costs, ensuring we are well-positioned to deliver long-term value for Ghana and our shareholders.”
