The Minister for Lands and Natural Resources, Mr Samuel A. Jinapor, has stated that the approved policy for Barari DV Ltd to mine lithium in Ghana includes provisions for increased royalties for green minerals.
He added that it has increased state participation in all green mineral operations to a minimum of 30%, enhanced local content participation, listing on the Ghana Stock Exchange, value addition and benefits for all green minerals.
Addressing concerns on the lithium lease at a press briefing on Wednesday in Accra, he disclosed, “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 the exploration of any mineral across the world.”
With lithium in high demand for electric vehicle batteries, the Minister highlighted provisions of the deal mandating Barari DV, a subsidiary of Australia’s Atlantic Lithium, to establish an in-country refinery.
“For the first time in the history of our country, a mining lease contains provisions for the establishment of a refinery,” he disclosed.
He announced that the government has also secured 19 per cent equity in Barari DV.
“We have already secured 19 per cent state participation in this mining company with the requirement to scale it up to a minimum of 30 per cent Ghanaian participation through listing on the Ghana Stock Exchange,” he added.
Elaborating on this shareholding structure, he explained that in the end, Barari DV Limited, the holder of this mineral right of lithium, Ghanaians and state participation will be 30 per cent and foreign participation will be a maximum of 70 per cent, adding that this has never happened in the history of our country in respect of any mineral.
The Minister noted that, “In everything we have done with this mining lease, the interest of the Ghanaian people has been paramount.”
Mr Jinapor underscored national interests as paramount in the lithium contract.
Joyce Adwoa Animia Ocran, ISD