Co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI), Dr Steve Manteaw, has described the Lithium Mining Agreement between Ghana Government and the Barrari DV of Australia as the best contract in the history of Ghana’s natural resources extraction.
According to him, the increase in royalty payments and the country’s equity in the agreement makes it different from all other mining contracts in the country.
He, however, believes this will be a baseline for upcoming agreements.
Reacting to assertions by some civil society groups that Ghana is being short-changed in the deal, Dr. Manteaw expressed confidence that this will help subsequent agreements to be improved.
“My preliminary assessment tells me that this is the best natural resource contract we have signed so far in the history of resource extraction in Ghana. So it sets a certain baseline for negotiating future contracts”.
“Let me say that it happened the same manner as Jubilee [oil field]. If you compare the contract signed with the jubilee partners and other subsequent ones, it tells you that over time we have improved in the various negotiations."
He further said the lithium contract suggests the country will not go back to days when it was signing contracts with little or no benefit.
"It also indicates that this country will not go back to the days we were signing 3.0% and 5.0% royalty payments and 10% carried interest” he noted.
The Lithium Mining Agreement has been criticised by some civil society organisations including the Institute of Economic Affairs (IEA), saying, it is not in the best interest of the country
Latest Stories
-
Fuel prices to ease from May 16, 2024 – IES
17 seconds -
Man found dead in bush at Bibiani Anhwiaso Bekwai
5 mins -
8 critical ways to fix your broken marriage after your wife’s affair
12 mins -
Cedi to continue losing streak; depreciates by about 17% to dollar
14 mins -
Until we enforce our laws, we cannot solve the galamsey problem – Fred Dzanku
24 mins -
14 tiny habits that will kill you before you know it
27 mins -
Withdraw book assessment and approval role from NaCCA – Publishers Association to Parliament
35 mins -
KMA’s ‘missing’ GH¢3.6m: Bright Simons files RTI request demanding details
36 mins -
Living with lupus: Gloria Dennis shares her 20-year journey
42 mins -
4 tiny things to do every single day for your mental fitness
44 mins -
Uefa wants only captains to speak to refs at Euros
57 mins -
CalBank temporarily suspends GH¢600m capital raising
58 mins -
Nana Bonsu II calls for presidential intervention on illegal mining
59 mins -
T-bill yields to continue downward trend
1 hour -
Bond market: Market turnover tumbled by 60.22% week-on-week to GH¢307.23m
1 hour