Lands Minister Reveals Plans by Gov’t to Introduce Comprehensive Mineral Royalties Framework
The government is preparing a new legal instrument to establish a long-term, comprehensive framework for mineral royalties in Ghana, Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has announced.
Speaking at a press conference in Accra on Wednesday, December 3, Mr. Buah said the framework—developed in collaboration with the Attorney-General—will cover all mineral sectors, including lithium.
“I’m very happy to inform you that we’ve worked closely with the Attorney General. Once we finish with Cabinet, we’ll be coming to Parliament with a new instrument that will permanently lay a complete comprehensive guideline on royalties—not only in the lithium sector, but in all minerals,” he stated.
The Minister explained that the updated framework is necessary to address lessons learned in recent years and to ensure Ghana’s mineral revenue system remains fair, competitive, and responsive to global economic developments.
“It’s very important we do so, having learnt lessons as we go forward. I thought this is the opportunity for us to review that, and I’m happy to inform you that I’ve taken the steps to do exactly that,” Mr. Buah added.
He also highlighted that the recent global downturn in lithium prices has affected several projects worldwide, including Ghana’s lithium venture, with potential job losses and economic impact for the local economy.
“The recent downturn in global lithium prices has put several lithium projects around the world on hold. This project that we are talking about is no exception. Jobs will be lost, jobs that had been planned to be created will not come up, and the local economy will clearly be affected,” he said.
According to the Minister, these market pressures have necessitated a review of fiscal terms to safeguard national interests while maintaining investment viability.
“This new market reality necessitates a review of the fiscal terms to protect the national interest,” he emphasised.
Mr. Buah further noted that traditional leaders, lawmakers, and other stakeholders have urged the government to ensure the project proceeds, citing its significance to the Central Region and the country at large.
