In October 2023, the Government of Ghana granted its first mining lease to Barari DV Ghana Limited (a subsidiary of Atlantic Lithium) to develop the Ewoyaa Lithium Project. Civil society and activists watched the deal closely as never before. Although awaiting parliamentary ratification, the government is touting Ghana’s involvement in the Ewoyaa project as unprecedented in the country’s mining history. The government’s position is based on the agreement’s provision of a 13% state interest and a 10% royalty rate, up from the usual 10% and 5% in existing mining leases. In addition, through the Minerals Income Investment Fund (MIIF), the government will acquire a further 6% of the mining operation and 3.06% of the parent company listed on the Australian and London stock exchanges.
However, scepticism abounds as to how Ghana’s first lithium project differs from existing mining leases in terms of government interest, with differing opinions expressing shared concerns and uncertainties. The differing views of legal and mining experts, political analysts and concerned citizens show how complex the issue is. The ACEP has carried out a thorough financial review of the project to separate fact from opinion and to guide evidence-based decision-making to ensure that the extraction of lithium from the Ewoyaa deposits is truly in the interests and well-being of the people of Ghana.
At the Alternative Mining Indaba (AMI) 2024 Idea Generation Hub, the ACEP and its partners seek to engage participants on the key findings of Ghana’s lithium project analysis and draw applicable lessons for optimal revenue mobilisation and community participation in the exploitation and development of critical minerals.
