By: Christian Kpesese
The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has laid before Parliament the lithium mining agreement between the Government of Ghana and Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, for ratification.
Presenting the agreement on Tuesday, November 11, 2025, Mr. Buah said the deal would pave the way for the development of Ghana’s first large-scale lithium project at Ewoyaa, near Mankessim in the Central Region.
He assured that the agreement was in the best interest of the people of Mfantseman Municipality and the country at large, noting that residents had “waited far too long” for the project’s commencement.
According to the Minister, the price of lithium has fallen sharply from $3,000 per tonne when the initial agreement was first introduced for ratification, to about $630 per tonne currently, a situation he said has stalled many lithium projects globally.
Mr. Buah explained that, in view of these changing market conditions, the government and the company have agreed to adopt a flexible royalty framework, where Ghana’s royalty earnings will be pegged to the prevailing market price of lithium to ensure sustainability and mutual benefit.
He also emphasized that the revised agreement seeks to secure job creation, community development, and revenue stability while protecting the environment and livelihoods of local people.
“We want the exploitation of our mineral resources to be in the ultimate interest of our citizenry,” the Minister stressed, urging the public not to be swayed by political commentary on the matter.
However, the Minority in Parliament, led by former Lands and Natural Resources Minister Samuel Abdulai Jinapor, has strongly criticized the new deal, describing it as “worse off” than the one negotiated under the previous administration.
Mr. Jinapor argued that the Akufo-Addo government secured a far superior framework that offered 13 percent free carried interest, 6 percent equity for the Minerals Income Investment Fund (MIIF), and 1 percent allocation for community development initiatives.
He further accused the current government of lowering key fiscal benefits such as royalties and value-added tax (VAT) components, as well as weakening provisions on visibility and transit agreements.
“The royalty agreement is lower than the previous one. Ghanaians would have been better off if the earlier agreement had been ratified,” Mr. Jinapor contended, urging President John Mahama to reconsider the current deal in the national interest.
He stressed that the Minority’s position is motivated by a commitment to ensure that the country’s natural resources are managed for the collective good of Ghanaians, not for partisan advantage.
By: Christian Kpesese/www.naturalresourcesnews.com
