Ewoyaa Lithium Deal: IEA questions Ghana's approach to resource ownership

The Institute of Economic Affairs has raised concerns over the ratification of the Ewoyaa Lithium mining lease by Parliament and the passage of the new Minerals and Mining Royalty Regulations.

Addressing the press on March 25, 2026, a former Chief Justice of Ghana and a Distinguished Fellow of the IEA, Sophia Akuffo, described the developments as 'troubling,' warning that it robs Ghanaians of their rightful share of the extractive sector.

Parliament approves lithium mining deal

"At a time when President John Mahama has stated in very clear terms on several occasions that Ghana and other African countries must exercise greater sovereignty over our natural resources, instead of cheaply parceling them away to foreign mining companies, other political actors appear to simply echo the concerns of foreign mining interests more than the aspirations of the Ghanaian people," she noted.

The IEA called for a fundamental shift in how Ghana manages its mineral wealth.

"Ghana must have full ownership of its natural and mineral resources; and must exercise this ownership right by engaging private sector local and foreign expertise strictly through service contracts that preserve national control and maximize benefits for the country’s industrial transformation," she said.

Touching on the 15-year lease granted to Barari DV Ltd, a subsidiary of Atlantic Lithium, Sophia Akuffo said the new agreement forces Ghana to remain "under the same old colonial system of royalties."



The mining lease has been ratified by Parliament, marking the country's first lithium mining lease.

It grants Atlantic Lithium exclusive rights to mine and produce lithium for an initial 15-year period, renewable under national law.

The lease includes fiscal terms aligned with current legislation, and a new regulation outlines a sliding scale for royalty rates for lithium projects in Ghana.

The project aims to produce 3.6 million tons of spodumene concentrate over 12 years, requiring a total investment of $185 million.

The new regulation sets new sliding-scale royalties which caps gold and lithium at 12% and all other earth minerals at 5% based on global prices.

JKB/AE

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