Atlantic Lithium deal in the best interest of Ghana – Lands Minister asserts
The Minister for Lands and Natural Resources, Samuel Abu Jinapor insists that a mining lease granted to Barari DV Ghana Limited is in the best interest of the country.
According to the Minister, the 15-year mining lease granted to a subsidiary of Atlantic Lithium Limited will ensure Ghanaians fully benefit from the natural resource.
In a press statement issued by the Lands Ministry on Friday, October 27, the Minister said he would only undertake an agreement that has the national interest and the well-being of the Ghanaian people.
“The attention of the Ministry of Lands and Natural Resources has been drawn to a statement issued by the Minority in Parliament and some concerns raised by a section of the public in respect of the mining lease granted to Barari DV Ltd (hereinafter referred to as the “Company”) for the exploitation of lithium at the Ewoyaa concession.”
“The Ministry welcomes the public interest and intense scrutiny of transactions for the exploitation and management of the natural resources of our country, as this is the best way of ensuring that these minerals inure to the benefit of the Ghanaian people.”
He assured that all the laws concerning such agreements will be followed throughout.
However, the Minister welcomed criticisms the agreement has received so far as he believes it would help the country get a better deal for the citizens.
“The Ministry, therefore, wishes to reiterate and re-emphasize the circumstances and processes leading to the grant of the mining lease and how the State stands to benefit from this transaction.
It is, however, important to clarify, from the outset, that neither the Ministry nor the Minister, has ever indicated that the company will commence operations in the first quarter of 2024.”
“In his remarks at the ceremony marking the signing of the Mining Lease, the Minister expressly indicated that the relevant provisions of our national Constitution, as well as all laws and regulatory permits regarding the exploitation of this critical mineral, would be strictly adhered to.”
Ghana has granted a 15-year mining lease to Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, to commence the construction and mining of lithium at Ewoyaa in the Mfantseman Municipality of the Central Region.
The lease incorporates new and enhanced terms intended to ensure that the country benefits, optimally, from this mineral. This includes an increase in royalty rate, state, and Ghanaian participation, as well as value addition to the mineral mined.
The granting of the mining lease follows the completion of prospecting and feasibility studies by the company, as well as a series of negotiations between the Government and the Company.