Parliament to deliberate on Lithium Lease Agreement in March 2024

The Ministry of Lands and Natural
Resources is expected to lay before Parliament the Lithium Mining Lease Agreement for consideration and ratification by the first quarter of 2024, if all things being equal._ The Ministry on 19th of October this year signed a lease agreement with Barari DV Limited, a subsidiary of Atlantic Lithium Limited for the mining of Lithium in Ewoyaa in Mfantsiman Municipality of the Central Region.
The Agreement stipulates that the State will have 19 percent Carried Interest with an option of scaling up to a minimum of 30 percent by the end of the contract. ‘There is a 13 per cent royalty, 35 percent corporate income tax, 1% of the company’s revenue to be lodged in a Community Development Fund for the development of host communities and a requirement to establish a refinery to process Lithium locally before export.
‘ However, following the signing of the Agreement, some civil society organisations and high profile personalities including the Institute of Economic Affairs and former Chief Justice, Sophia Akuffo have criticised the terms of agreement, saying; “It’s not in the interest of the nation’”.