The Parliamentary Committee on Lands and Natural Resources has commenced a review of the lithium agreement between the Government of Ghana and Barari DV Ghana Limited, with the aim of ensuring the nation derives the maximum possible benefit from its mining resources.
Chairman of the Committee, Alhaji Collins Dauda, stated that Ghana would significantly benefit from the agreement, which is underpinned by law. He explained that if the lithium company pays a ten per cent royalty or any rate determined by the Minister, the same rate would also apply to other mining companies, creating uniformity across the sector.
Addressing journalists at a press conference at Parliament House in Accra on Tuesday, November 26, the Committee announced that stakeholders had been invited to present their views on the agreement, as part of a broader effort to ensure wide consultation before a final report is submitted to Parliament.
He said, “The committee is not in a hurry to pass without taking the views of the public on board. We will not ratify until we have done extensive engagement with critical stakeholders in this country or beyond,” the Chairman said.
Alhaji Dauda, who also represents Asutifi South as the National Democratic Congress (NDC) Member of Parliament, expressed hope that the sector minister would introduce an amendment to clearly define a standard royalty rate applicable to all mining companies, thereby promoting fairness and consistency.
“We wish to indicate that the government, parliament, and Ghana seek to enhance benefits derived from mining in the country. Everybody is concerned about the benefits that Ghana derives from mining, and we want to take every step to ensure we benefit more,” he said.
Earlier, on Tuesday, November 11, the Minister for Lands and Natural Resources, Mr Emmanuel Armah-Kofi Buah, laid before Parliament the renegotiated lithium lease agreement between the Government of Ghana and Barari DV Limited for approval, in line with Article 268 of the 1992 Constitution.
Contributing on the Floor of Parliament, Mr Buah noted that the renegotiation had become necessary following a sharp drop in global lithium prices, which declined from $3,000 per tonne to $630.
Subsequently, the Speaker of Parliament, Alban Bagbin, directed that the agreement be referred to the Committee on Lands and Natural Resources for detailed examination.
Source: GNA
