Parliament has ratified a mining lease agreement between the Ministry of Lands and Natural Resources and Barari DV Ghana Limited for the extraction of lithium and other minerals at Mankessim.
The agreement grants the company a 15-year mining lease, which is renewable in accordance with the Minerals and Mining Act, 2006.
Under the terms of the deal, the Government of Ghana will hold a 13 percent free carried interest in the rights and obligations of the mineral operations.
Additionally, the royalty rate on lithium mining will be determined in line with the Minerals and Mining Royalty Regulations, 2025.
The agreement also includes provisions for community benefits, with one percent of the company’s annual revenue earmarked for a community development fund.
Speaking on the floor of Parliament, the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, said the firm will be required to offer a 12 percent royalty following the ratification of the agreement.
Former Finance Minister and Ranking Member on the Finance Committee, Dr. Mohammed Amin Adam, called for an increase of the annual revenue from one to three percent to the Community Development Fund by Barari DV Ghana Limited.
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