Cabinet has approved a green-minerals policy to aid in the management of lithium exploitation and production, a step towards tapping into the multibillion-dollar global industry.
The Minister for Lands and Natural Resources, Mr Samuel Abu Jinapor, who disclosed this in an interview with the media last Thursday, stated that cabinet approved the policy document on the 27th of July after rigorous interrogation.
He said parliament was expected to pass the policy before the end of the year and would provide clear guidelines and a fiscal regime for mining green minerals in a manner that ensures Ghana derives benefit as much as possible from its resources.
Mr Jinapor noted that the new policy would insist on a higher level of local participation in the green minerals value chain as opposed to the 10 percent vested interest the state had currently in mining entities.
He added that the overarching goal of the new policy was anchored on the principle that the exploitation of green minerals must benefit Ghanaians who are the true owners of the resource.
The Minister stressed that the policy was focused on putting in place incentives and measures to attract the needed investments, adding that stabilisation clauses, development agreements and other measures would be put in place to give investors the comfort to put their resources in the sector.
He indicated that Ghana has discovered commercial quantities of lithium, especially at Ewoyaa in the Central Region and contrary to reports that licences had been issued for mining lithium, the government has not given out any licences.
“No person or company has any permit or licence to mine or exploit lithium. The licences that were granted were for exploration, which is different from exploitation,” he stressed.
Mr Jinapor stated that although the next stage was to mine the mineral resources, the government’s focus was to put in place the policy framework before moving into mining.
Globally, it is estimated that the lithium industry alone is valued at US$ 11 billion at the mining stage, with the value of the industry at the highest end estimated at US$ 7 trillion.
Often referred to as “minerals of the future”, green minerals are metals and other mineral resources that are needed to support the transition to clean energy technologies aimed at reducing carbon emissions. A wide range of minerals that fall under the umbrella of green minerals include bauxite, cobalt, copper, lithium, granite, manganese and nickel.
Irene Wirekoaa Osei, ISD
