Ghana Makes History With Lithium Mining Deal, Akufo-Addo Government Targets Electric Vehicle Boom

• The government of Ghana has granted Barari DV Ghana Limited a 15-year lease to mine lithium
• The royalty rate in the deal has been increased to 10 percent from the standard 5 percent, according to the Ministry of Lands and Natural Resources
• The lease covers an area of approximately 42.63 square kilometres at Ewoyaa in the Mfantseman Municipality of the Central Region

Ghana has finalised a deal for the mining of Lithium in the Ewoyaa in the Mfantseman Municipality of the Central Region.

The government granted Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, a 15-year mining lease.

The lease covers an area of approximately 42.63 square kilometres and grants the company the exclusive right to produce lithium in the area.

According to the Ministry of Lands and Natural Resources, the lease features new terms to benefit the government.

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According to the ministry, the royalty rate has been increased to 10 percent from the standard 5 percent.

The state's interest in mining operations has increased from 10 percent to 13 percent.

Lithium is one of the main minerals used in producing lithium-ion batteries in electric cars.

Ghana seeks to position itself as a player in producing a key ingredient in electric vehicle batteries.

Ghana discovers lithium

Ghana discovered lithium deposits in the Ashanti, Western and Volta Regions in large quantities in 2022.

The Mineral Commission said at the time that the government was in the process of starting commercial exploration.

Bawumia discloses government's policy of using electric vehicles for public transport

Meanwhile, YEN.com.gh has reported that Vice President Dr Mahamudu Bawumia has said Ghana will soon be the pacesetter in Africa using electric vehicles for public transport services.

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He said the move would significantly reduce the cost of transportation as the major component of the cost, fuel, would be minimised.

He commented when he visited Solar Taxi, a Ghanaian company that assembles electric vehicles.

Source: YEN.com.gh