The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has assured Ghanaians that government will secure the highest possible national benefit from the country’s emerging lithium industry, insisting that the state “will not be shortchanged.”
Addressing a press conference in Accra on Wednesday, December 3, the Minister announced that government is developing a more flexible and progressive royalty framework that will increase Ghana’s earnings as global lithium prices rise.
Mr. Buah revealed that under the new structure, the agreed 10% royalty will serve as a baseline, with automatic upward adjustments as prices exceed set thresholds.
“We foresee, for example, that at $3,000 we will not only achieve the 10% royalty, but mechanisms are being put in place so that when prices go beyond $3,000, the rate will move beyond 10% to 11%,” he said.
He stressed that the evolving fiscal regime aims to maximise value for the state and protect Ghana’s long-term strategic interests in its green mineral resources.
“This government will not shortchange the people of Ghana. We have a responsibility to protect the interests of this republic,” he declared.
The Minister disclosed that Parliament is actively involved in the process and that the new royalty instrument will be operational before any final approval of the lithium mining agreement.
“We are working with Members of Parliament to ensure that the new instrument kicks in before approval, so that the people of Ghana get all the advantages,” he noted.
Mr. Buah added that the government is paying close attention to public concerns surrounding the lithium negotiations and is committed to ensuring a transparent, fair, and value-driven outcome.
“We are listening to all the voices and taking steps to make sure that we win not only by having the project come on stream, but also ensuring that the people of Ghana get value for money and the resources God has endowed us with,” he said.
Source: Myxyzonline.com
