The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has re-laid the Barari lithium agreement in Parliament following the withdrawal of an earlier version of the deal.
Speaking to journalists in Parliament, Mr. Buah explained that the revised agreement, developed after extensive consultations with key stakeholders, provides enhanced benefits for the state.
Under the new terms, host communities where lithium deposits are located will receive a gross benefit of one percent. Ghana is guaranteed a five percent benefit even if global lithium prices fall, while the country stands to gain up to twelve percent if prices rise significantly on the international market.
“The negotiation model adopted is favourable to Ghana and represents a win-win agreement,” the Minister said. He added that the country’s benefits will be calculated from a base price of GHS 1,200, starting at five percent and increasing to twelve percent depending on market conditions.
However, the Minority in Parliament has criticised the revised deal, arguing that the government has reduced the previously negotiated ten percent stake and deferred Ghana’s full benefits to future market gains. The concerns were raised by the Minority through the Ranking Member on the Lands and Natural Resources Committee.
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