The Minister of Lands and Natural Resources, Samuel Abu Jinapor, has expressed satisfaction with the terms secured in the lithium lease agreement with Barari DV Ghana Limited.

He underscored that the government prioritized maximizing Ghana’s benefit from this resource by negotiating increased royalties, state participation, and value-addition measures.

The government has granted Barari DV Ghana Limited, a subsidiary of Atlantic Lithium Limited, a 15-year mining lease to commence the mining of lithium at Ewoyaa in the Mfantseman Municipality of the Central Region.

The lease incorporates new and enhanced terms intended to ensure that the country benefits, optimally, from this mineral. The $250-million project is set to commence by 2025.

The deal includes a 10% royalty and 13% free carried interest in the state, surpassing the existing 5% and 10%, respectively, for other mining agreements.

Speaking on the Point of View on Citi TV on Monday, Mr Jinapor insisted that the agreement was well negotiated.

“I personally as a Minister, I am very satisfied with the terms we have agreed with them. This was thoroughly negotiated it was done in a space of about two years and this has been marked down properly.”

He further added “I know as Minister that the success, benefaction or otherwise and the interest the Ghanaian people are going to get will fundamentally depend on how the Ghanaian government police the processes leading to first ratification, second the construction of the mine, third the production, fourth the value addition, the benefaction then fifthly the benefit sharing. That for me is the gravamen of the whole matter. That is the crust of the matter.”