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El Samuels; MBN360
Lands Minister, Emmanuel Armah-Kofi Buah, has presented a revised lithium mining agreement between the government and Barari DV Ghana Limited to Parliament for approval. The deal covers lithium and other mineral extraction at Mankessim in the Central Region. This move comes after a two-year delay and follows a request by the company to adjust the lease terms due to a sharp decline in global lithium prices, from $3,000 per tonne to around $630.
The revised agreement has sparked debate, with the Minority in Parliament calling for its rejection, arguing that the new terms are similar to the previous version. The government, however, emphasizes that the changes aim to protect the project and create jobs for Ghanaians
Addressing journalists in Accra on Tuesday, November 11, the Minister explained that the revision follows a request by the company to adjust the lease terms due to a sharp decline in global lithium prices, from about $3,000 per tonne to around $630, which has affected the viability of the project.
“The proponents of the project wrote to say there was no way they could go forward with the old agreement,” Mr. Buah said. “Almost every lithium project around the world has been halted because the profitability is no longer feasible.”
He noted that the government had to renegotiate the royalty terms to protect the project and the interests of the affected communities. “Initially, the royalty rate was raised from 5 percent to 10 percent because of high prices. Now that prices have dropped, we’ve agreed to start at 5 percent and return to 10 percent when prices recover,” he explained.
Mr. Buah added that the move was necessary to ensure that the project proceeds without further delays, given that farmlands have already been acquired and livelihoods affected. “We are thinking about jobs, empowering our people, and creating industries. This approach ensures the project moves forward while protecting Ghana’s long-term interests,” he said.
However, the Minority in Parliament has raised strong objections, calling for the revised deal to be rejected. Former Lands Minister and MP for Damongo, Samuel Abu Jinapor, argued that the new terms are identical to the previous version laid before the House. “With the greatest of respect, the terms of this new agreement are not different from what I presented to this House. I therefore pray that this laying be rejected,” he stated.
Minority Leader Alexander Afenyo-Markin also accused the government of inconsistency, saying, “You told the people of Ghana that the lithium agreement was bad. Today, you have brought back the same agreement, only reducing the royalties while claiming credit for it.”
Majority Leader Mahama Ayariga dismissed the Minority’s claims and urged Parliament to allow due process.
Speaker of Parliament, Alban Sumana Kingsford Bagbin, clarified that the earlier deal was never formally rejected by the House, noting, “Now it is being brought, we are referring it to the relevant committee. Every member is allowed to visit and make contributions. When the report is presented, you can disagree with the committee, at the end of the day, we make the decision.”
