Lithium deal will be scrutinised to ensure Ghana gets value for money – John Jinapor

John Jinapor, Member of Parliament for the Yapei-Kusawgu constituency, has stated that the Minority is dedicated to ensuring that the lithium lease awarded to Barari DV Limited, a subsidiary of Atlantic Lithium Limited, be scrutinised so that Ghana gets value for money.

Addressing the parliamentary press corps, the Ranking Member on the Mines and Energy Committee of Parliament stated that when the lease is laid before the House as promised by the Minister of Lands and Natural Resources, the House will conduct open consultation with Civil Society Organisations (CSOs) and other stakeholders.

“Let me assure the people of Ghana that the Minority will not let you down. We will scrutinise the agreement. We will not allow this agreement to be rushed through. We will seek the guidance and involvement of Civil Society, and important personalities, including former Chief Justice, Justice Sophia Akufo, who has been vocal on this agreement.

“The new order is lithium. Lithium is more profitable than gold, lithium is more profitable than diamond, and the world order is moving to this green mineral, so the minority will insist that Ghana benefit from this resource and that the terms and agreement if they are not in the interest of Ghana, the Minority will kick against it,” he said.

Meanwhile, the Minister of Lands and Natural Resources, Samuel Abu Jinapor, says the licence granted Barari DV Ltd, a subsidiary of Atlantic Lithium Ltd, for the mining of lithium at Ewoyaa in the Central Region is the best in Ghana’s history.

“This lease differs from all previous mining leases in many respects. It is the first time in the history of our country that we have successfully negotiated for 10 per cent royalties for any mineral, which is one of the highest for exploitation of any mineral across the globe,” he said.

He explained that the current deal was the best for the country because the government had secured a 19 per cent state participation in the mining company, with a requirement to scale it up to a minimum of 30 per cent Ghanaian participation through listing on the Ghana Stock Exchange for shares to be made available to Ghanaians and local entities.

He said this at the Meet-the-Press series organised by the Ministry of Information for the Land and Natural Resources Minister and Chief Executive Officers (CEOs) of related sector agencies to provide an update on the lithium deal.

The Minister signed the first-ever lease for the exploitation of lithium in the country on October 19, this year.

This followed Cabinet’s approval of the Green Minerals Policy, which makes it mandatory for prospective holders of leases for lithium and other green minerals to establish a refinery for processing the resource.