Lands and Natural Resource Minister to lay Lithium Mining lease before Parliament
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.
Minister for Lands and Natural Resources, Samuel Abu Jinapor, has unveiled plans to present the mining lease agreement between Ghana and Barari DV Ghana Limited for lithium extraction to Parliament for ratification.
The announcement, made during a press briefing on Thursday, December 12, 2023, comes in response to concerns raised over the lithium mining lease signed on October 20, 2023.
Mr Jinapor emphasized that parliamentary ratification is a prerequisite for the lease, as specified in Clause 1E of the agreement, adding that failure to undergo this process would lead to the annulment of the lease.
The Minister clarified the government’s awareness of the importance of parliamentary approval, stating, “By the very term of the lease, therefore, ratification by Parliament is a condition precedent, as an unratified mining lease confers no enforceable right, and the government has always been mindful of this decision.”
He assured that the mining lease would be presented to Parliament, aligning with constitutional provisions and legal protocols.
Former Chief Justice of Ghana, Sophia Akuffo, echoed the sentiment that the lithium lease necessitates parliamentary ratification for completeness. Speaking as a Distinguished Scholar of the Institute of Economic Affairs (IEA), the Chief Justice highlighted the transaction’s requirement for approval by the Parliament of the Republic of Ghana, emphasizing that it remains an essential step in the process.
