The Ghana Chamber of Mines has expressed optimism that, the 9thParliament will expeditiously ratify the Ewoya Lithium deal with Barari DV Ghana limited for the country to derive maximum benefits.
Acting Chief Executive of the Chamber, Ahmed Dasana Nantogmah said the country stands to gain from the potential of the critical mineral if ratified early enough due to increasing volatile market forces.
The previous Government in October 2023 signed the country’s first lithium mining lease agreement with Barari DV Ghana Limited, a subsidiary of Atlantic Lithium for the 42.63 square kilometer Eyowaa concession located in the Mfantseman Municipality of the Central region.
The 15-year lease agreement grants Barari DV exclusive rights to extract lithium and associated minerals.
Fiscal regime of the Ewoyaa deal includes a 10% royalty and 13% free carried interest to the state.
Additionally, Ghana’s Minerals Income Investment Fund (MIIF) purchased an additional 6% equity in the mine at USD 27.9 million.
However, the deal never received Parliamentary approval before the tenure of the 8th Parliament ended as a result of mixed public outcry with regards the country’s stake.
Speaking in an interview on Metro TV monitored by NR NEWS, Mr Nantogmah urged the need for the current Parliament to ratify the deal due to the significant benefots the country stands to gain from the critical mineral.
He however emphasied a review of the framework agreement of the lease due to changes that have occurred over the period since the signing of the lease agreement in 2023.
According to him, the potential of the resource is huge urging the country to act quickly in order not to lose the opportunity that it present.
On whether the country has what it takes to manage the resource, Mr Nantogma expressed believe in Ghana ability to manage the new mineral which presents a golden opportunity for the country to get things right.
“I think we can. This is a new mineral, and it presents a chance to get things right. The lease contains generous terms—like the 10% royalty and a community development agreement. Now that circumstances have changed, we can revisit and strengthen those provisions. But we must act decisively.”
