"Lands and Natural Resource Minister to lay Lithium Mining lease before Parliament"

" \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n Lands and Natural Resource Minister to lay Lithium Mining lease before Parliament \r\n\r\nMinister 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.\r\n\r\nThe 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.\r\n\r\nMr 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.\r\n\r\nThe 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.\"\r\n\r\nHe assured that the mining lease would be presented to Parliament, aligning with constitutional provisions and legal protocols.\r\n\r\nFormer 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.\r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\nMeanwhile, the Minerals Commission responded to criticism from certain individuals regarding the lithium deal between the government of Ghana and Barari DV Ghana Limited.\r\n\r\nIn a press statement issued on Monday, December 4, the Minerals Commission pointed out that the critical statements made by some individuals stem from a lack of thorough reading of the agreement.\r\n\r\nThe statement emphasized that many concerns are based on inaccurate assumptions and unsupported assertions.\r\n\r\nThe Minerals Commission reiterated that the lithium deal is in the best interest of the nation.\r\n\r\nThe mining lease, granted for 15 years to Barari, a subsidiary of Atlantic Lithium Limited, an Australian company listed on the Australian Securities Exchange (ASX) and the Alternative Investment Market (AIM) of the London Stock Exchange, covers an area of 42.63 km\u00b2 in and around Ewoyaa in the Mfantseman Municipality of the Central Region.\r\n\r\nThe $250-million project, located in Ewoyaa, Mfantseman Municipality in the Central Region, is set to commence production by 2025.\r\n\r\nThe deal includes a 10% royalty and 13% free carried interest by the state, surpassing the existing 5% and 10%, respectively, for other mining agreements.\r\n\r\nBarari DV Ghana Limited is also required to contribute 1% of its revenue to a community development fund for the upliftment of the mining area.\r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n "

"Lands and Natural Resource Minister to lay Lithium Mining lease before Parliament"

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