Accra: Parliament has approved the Mining Lease Agreement between the Ministry of Lands and Natural Resources and Barari DV Ghana Limited for the mining of lithium and other minerals at Ewoyaa in the Mfantsiman Municipality of the Central Region. The agreement, which covers a concession area of 42.63 square kilometres, was presented to the House by Mr Emmanuel Armah-Kofi Buah, the Minister for Lands and Natural Resources, in accordance with Article 268 of the 1992 Constitution and Section 5(4) of the Minerals and Mining Act, 2006 (Act 703).
According to Ghana News Agency, the Speaker referred the agreement to the Committee on Lands and Natural Resources for consideration and report, following its presentation. The Committee engaged with Mr Yusif Sulemana, the Deputy Minister of Lands and Natural Resources, officials from the Minerals Commission, and the Environmental Protection Authority (EPA), while also receiving input from the Minerals Income Investment Fund (MIF). The Committee noted that most of the concerns raised earlier had been addressed in the agreement. However, it acknowledged suggestions that Ghana should adopt a state-owned approach to lithium development rather than relying on foreign concessions under royalty-based arrangements. This approach was described as a potential paradigm shift in mineral exploitation policy, prompting the Ministry to consider these proposals for future reforms.
Despite the Committee's recommendation for approval of the agreement, the Minority Caucus, led by Mr Alexander Afenyo-Markin, the Minority Leader, rejected the motion for adoption of the report. Lithium, a critical mineral for producing batteries, glass, and aluminium products, has gained importance in the global green transition. Demand for lithium is projected to increase significantly, driven by the shift to electric vehicles and renewable energy storage. Analysts estimate that by 2030, global demand could surpass 2.4 million metric tonnes of lithium carbonate equivalent, with the lithium-ion battery market expected to exceed $400 billion in value.
The approval of the Ewoyaa concession marks Ghana's entry into the global lithium market, positioning the country to benefit from the growing demand for green minerals while raising important questions about ownership, policy direction, and long-term economic impact.