Amidst mixed reactions and concerns surrounding the Lithium deal between the government of Ghana and Barari DV Ghana Limited, the Minerals Commission has issued a resolute statement, reaffirming the government's careful consideration of the agreement and emphasizing its potential benefits for the country.
The key details of this press release highlight the proactive and thorough approach taken by the government in evaluating the terms and conditions of the deal. The Commission, through its Chief Executive Officer, Martin Kwaku Ayisi, has adamantly defended the accord, refuting misconceptions and asserting that the criticisms directed toward the agreement may stem from incomplete understanding.
Addressing Misconceptions
The Commission's statement directly challenges perceived misconceptions about the Lithium deal, pinpointing ignorance as a significant factor behind the criticisms. By underscoring the meticulous review process undertaken by the government, the Commission seeks to dispel the notion that the agreement lacks comprehensive assessment or transparency.
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The Essence of the Agreement
Providing a clear overview of the deal, the Commission outlines the specifics of the mining lease granted to Barari DV Ghana Limited. The lease, awarded for 15 years, covers an area of 42.63 Km2 in and around Ewoyaa in the Mfantseman Municipality of the Central Region. Unveiling these details serves to enhance transparency and correct any misconceptions regarding the scope and geographical coverage of the agreement.
Response to Critics
The Commission also addresses criticisms from key stakeholders, such as the Institute of Economic Affairs (IEA) and former Chief Justice Sophia Akufo. By rebutting assertions of colonial or Guggisberg-type agreements, the Commission underscores the need for a careful and informed analysis of the agreement and suggests that opposition may stem from incomplete or inaccurate information.
Key Project Details
The financial and social aspects of the deal, including the projected $250-million project and the improved fiscal terms including a 10% royalty and a 13% free carried interest, are highlighted. Additionally, the requirement for Barari DV Ghana Limited to allocate 1% of its revenue to a community development fund reinforces the commitment to local upliftment.
Diverse Perspectives
The Commission acknowledges the divergent voices regarding the agreement, citing the approval from notable figures such as statesman and business executive Sir Sam Jonah. Notably, this underscores that opinions about the deal vary, emphasizing the significance of comprehensive and accurate information to evaluate its impact holistically.
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PRESS RELEASE
RE: LITHIUM MINING LEASE BETWEEN THE GOVERNMENT OF GHANA AND
BARARI DV GHANA LIMITED
The attention of the Minerals Commission (the “Commission”) has been drawn to comments and concerns by some members of the Ghanaian public regarding the mining lease between the Government of Ghana and Barari DV Ghana Limited (the “company” or “Barari”).This comes on the heels of the announcement by the Minister of Lands and Natural Resources, Hon. Samuel A. Jinapor at a brief ceremony on 19 October 2023 when he signed the first mining lease for the exploitation of Lithium in Ghana and the publication of the lease on the website of the Commission.
For the avoidance of doubt, the mining lease was granted for 15 years to Barari, which is the subsidiary of Atlantic Lithium Limited, an Australian company listed on the Australian Securities Exchange (ASX) and also on the Alternative Investment Market (AIM) of the London Stock Exchange.
The lease covers an area of 42.63 Km2 in and around Ewoyaa in the Mfantseman Municipality of the Central Region.
The Commission notes in spite of the publication of the lease which is now widely available to the general public, it has become increasingly clear that the commentators have not read the agreement in its entirety and as result many of concerns are based on assumptions that are inaccurate and assertions that are not supported by facts or any data.
Recognizing these concerns raised, the Commission has scheduled a press conference on Thursday, 7th December 2023 to further explain the nature of the contract and procedures, including the next steps after the grant of the lease.
The Commission would like to assure the public of our utmost commitment to transparency and accountability in dealing with any mineral resources that rightly belong to the people of Ghana.
The Commission further assures the public that the lease was signed in the best interest of Ghana.
SIGNED
MARTIN KWAKU AYISI
CHIEF EXECUTIVE OFFICER
MINERALS COMMISSION
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