The Institute of Economic Affairs (IEA) is demanding that the government halt the ratification of the current lithium mining agreement before Parliament, warning that the deal does not provide sufficient value for the state.
The call comes as the Majority in Parliament argues that the 10% royalty rate secured by the Akufo-Addo administration with Barari DV Ghana Limited breaches the Minerals and Mining (Amendment) Act, 2010, which stipulates a 5% royalty for such concessions.
Speaking at a press briefing on Tuesday, December 9, IEA Board Chairman, Dr. Charles Mensa, said mining agreements historically tilt heavily in favour of investors, leaving the country unable to harness the economic value of its natural resources fully.
He noted that this persistent imbalance has contributed to Ghana’s recurring return to international support programmes, including engagements with the International Monetary Fund (IMF).
“Parliament must halt ratification of the Revised Lithium Agreement between Ghana and Barari, currently before parliament. This is critical because the agreement in its current form is not only a continuation of the colonial-type agreements Ghana has had in its gold and oil sectors, but fails to comply with the requirements of major international frameworks signed and ratified by Ghana.
He added, “The United Nations General Assembly Resolution 1803 (1962), United Nations General Assembly Resolution 3281 (1974) and the African Charter on Human and Peoples’ Rights and Other Protocols all enjoin resource-endowed countries to exploit their resources for their benefit.
“The IEA seeks a review of the lithium agreement to ensure greater state and local ownership and control within these international frameworks.
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