Home » Ghana Grants First Lithium Mining Lease to Atlantic Lithium

Ghana Grants First Lithium Mining Lease to Atlantic Lithium

by Adenike Adeodun

Ghana steps boldly into sustainable mining, initiating a $250 million lithium extraction project in Ewoyaa, positioned to bolster the economy by 2025. Barari DV Ghana Ltd, under Atlantic Lithium’s wing, gears up for this milestone after securing a unique 15-year lease.

In an unprecedented move, Samuel Abu Jinapor, Minister of Lands and Natural Resources, endorsed the venture, ushering in heightened royalties and community enrichment levies. The project’s kick-off, marked by the minister passing lease documents to Atlantic Lithium’s Neil Herbert, signals a pivotal turn for Ghana’s mining protocol.

Central to the agreement is a doubled royalty rate, now at 10%, alongside a 13% free-carried state interest—terms reinforcing Ghana’s Green Minerals Policy. Additionally, the state gains a 19% stake locally and a 3.06% slice in the foreign-holding faction, promising broader economic fruitfulness.

“This approach redefines our stake in resources, ensuring Ghanaians feel the direct impact of this sector’s growth,” Jinapor articulated, underscoring a shift in national strategy. His stance crystallizes in the mandatory Ghana Stock Exchange listing, opening ownership to locals, social security structures, and private investors.

Beyond fiscal restructuring, the community reaps direct benefits. According to a report by Graphic Online, a mandated 1% revenue slice nourishes a Community Development Fund, targeting regions affected by mining activities. This initiation mirrors the government’s holistic view—wealth from natural resources translating into communal prosperity.

Furthermore, the company shoulders the responsibility of a feasibility study, probing the viability of a domestic chemical plant. Jinapor’s declaration resonates here: “Exporting raw lithium isn’t our trajectory. We’re anchoring value addition within, utilizing any operational by-products to nourish local industries.”

This commitment, reinforcing the government’s resolve, pivots from conventional paths, marking a new epoch where resource exploitation aligns with national and community upliftment.

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