Lands Minister disagrees with assertions Lithium deal is not good for Ghana

Despite the various backlashes and commentaries concerning Ghana’s lithium deal, the Minister of Lands and Natural Resources, Samuel Abu Jinapor, has insisted that the deal is in the best interest of the country.

In an interview with Bloomberg, the minister said the deal would be beneficial to the country, adding that this is the highest stake the country has owned in a mineral deal.

“Green minerals, lithium, energy transition, and all of that, our president and his government have insisted that we treat these minerals differently from other minerals in the past, which is why we have come up with a policy on the management, exploitation, and utilization of the green minerals of our country, including lithium.

“We have signed some deals with Atlantic Lithium, but we have done all of that in a manner that is fundamentally different from what we did in the past and most importantly, the remarkable difference between what we did in the past and what we are doing now is that we are retaining the highest end of the value chain as much as possible,” he said.

Ghana signed a 15-year lease agreement with lithium mining company Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, to commence the construction and mining of lithium at Ewoyaa in the Mfantseman Municipality of the Central Region.

The deal includes a 10% royalty and 13% free carried interest by the state, surpassing the existing 5% and 10%, respectively, for other mining agreements.

SSD/NOQ