Central Regional House Of Chiefs Endorses Ghana's Lithium Mining Agreement: “It Is Far Better”

• The Central Regional House of Chiefs has supported Ghana’s new lithium deal with Barari DV Ltd
• The traditional leaders met with government officials to discuss the deal to exploit lithium in the region
• Ghana seeks to position itself as a player in producing a key ingredient in electric vehicle batteries

The Central Regional House of Chiefs (CRHC) has backed Ghana’s lithium deal with Barari DV Ltd, a subsidiary of Atlantic Lithium.

The chiefs noted that the deal was not perfect but believe it would benefit the country.

The Central Regional House of Chiefs President, Odeefo Amoakwa Buadu VIII, said the group had met with representatives from the Ministry of Lands and Natural Resources and the Minerals Commission last week.

The state presented the details of the lithium deal to the traditional leaders.

Read also

Bawumia Speaks: National Service will become optional if I'm president

It highlighted the royalty regime of 10 percent; 13 percent free carried interest and the requirement for the company to list on the Ghana Stock Exchange, among others.

Buadu stressed that now was the time to take advantage of the lithium and not later when demand for the mineral could have dropped.

"We have to take a timely decision on it, so we decided that it should be mined to the advantage of our people," he said.

“They have explained everything to us, and we believe that it may not be perfect but it is far better than the mining agreements that we have now."

Ghana finalised a deal for lithium mining in the Ewoyaa in the Mfantseman Municipality of the Central Region in October 2023.

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

Read also

Bawumia promises to abolish e-levy, other taxes vexing Ghanaians

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

Bawumia discloses policy of using electric vehicles for public transport

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

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