“We Have Not Been Fair to Our Nation” – Prof. Oquaye Slams Lithium Deal
Former Speaker urges government to renegotiate lithium and mineral royalties to safeguard Ghana’s economic interests
- Prof. Oquaye criticises the agreement with Barari DV, calling the royalty framework unfair to Ghana
- He argues the 5% royalty ceiling has long shortchanged the country on valuable minerals like lithium, gold, and bauxite
- Oquaye urges the government to negotiate significantly higher minimum royalties to protect national interests
Former Speaker of Parliament, Prof. Mike Oquaye, has criticised the lithium mining agreement between the Ghanaian government and Barari DV, questioning the fairness of the royalty structure in the deal.
His remarks follow the government’s withdrawal of the revised agreement from Parliament on December 10 to allow further consultations with stakeholders.
The move came after objections from the Parliamentary Majority, who argued that the negotiated 10% royalty rate conflicts with the Minerals and Mining (Amendment) Act, 2010, which sets a 5% royalty cap for such concessions.
Speaking in an interview on Monday, December 15, Prof. Oquaye stressed that the discussion should not be limited to whether the royalty is 10% or 5%. He argued that the existing cap has long disadvantaged Ghana, especially in the exploitation of high-value minerals like lithium, gold, diamonds, and bauxite.
“The current withdrawal is noteworthy. Many view this purely as a debate over whether the royalty should be 10% or 5%, but the 5% cap has been in place for a long time. It’s painful to see that for resources of high value, we accept a maximum of 5%. That’s unfair to our nation. For gold, diamonds, and bauxite, we could demand at least 20%,” he said.
Prof. Oquaye recommended that Ghana negotiate significantly higher minimum royalties to protect national interests and secure fair returns from mineral extraction.
The lithium agreement, originally presented by Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah, concerns mining operations in Mankessim, Central Region. The agreement was revised after Barari DV Ghana Limited requested changes due to a sharp decline in global lithium prices affecting the project’s commercial viability.
