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HomePoliticsLithium Lease Agreement: Not Fit for Purpose – Atik Mohammed

Lithium Lease Agreement: Not Fit for Purpose – Atik Mohammed


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A Group calling itself Mass Action for Sustainable Development in Africa (MASDA) has called on Parliament not to ratify the lithium lease agreement.

Addressing a news Conference in Accra on Monday (December 11, 2023), the Executive Director of MASDA, Mr. Atik Mohammed explained that the 10% royalty to be paid to government by Barari DV Ghana limited amounts to a shortchange adding that lithium and other green minerals represent the future.

“This is because they are at the center of the green transition. The global shift to electric vehicles as a means of carbonization is made possible because of lithium batteries”, Mr. Mohammed emphasized.

“… As a result the demand for lithium has increased exponentially”.

The Executive Director of the group therefore described the mining lease agreement as unacceptable and not fit for purpose.

He later called for a new mineral act which he called “Lithium and Other Green Minerals Act” to deal with the current gaps.

“The latter solution however means a clear and specific provisions on royalty rates, carried interest, equity concerns, local participation, and value addition arrangements contained in a new legislation.

In this regard a Lithium and Other Green Minerals Management Act for instance will go a long way to help us streamline the management of lithium and other green elements in a manner that is beneficial and sustainable for Ghana”, Mr. Atik advised.

MASDA is therefore calling on Parliament to call for a broader consultation on the lease agreement before ratifying it.

Source: newsflashafrica.com
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