{"id":127171,"date":"2023-12-04T12:53:52","date_gmt":"2023-12-04T12:53:52","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/04\/minerals-commission-backs-govt-over-deal-says-its-in-ghanas-best-interest\/"},"modified":"2023-12-04T12:53:52","modified_gmt":"2023-12-04T12:53:52","slug":"minerals-commission-backs-govt-over-deal-says-its-in-ghanas-best-interest","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/04\/minerals-commission-backs-govt-over-deal-says-its-in-ghanas-best-interest\/","title":{"rendered":"Minerals Commission backs gov\u2019t over deal, says it\u2019s in Ghana\u2019s best interest \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The\u00a0Minerals Commission\u00a0asserts that the\u00a0lithium\u00a0deal between the government of\u00a0Ghana\u00a0and Barari DV Ghana Limited is in the best interest of the nation.<\/strong><\/p>\n<p>In a press statement issued on Monday, December 4, the Commission emphasised that the government thoroughly examined all available options before entering into the\u00a0agreement.<\/p>\n<p>The statement underscored that several concerns raised about the deal are out of ignorance, suggesting that critics may not have thoroughly read the contract agreement.<\/p>\n<p>The Minerals Commission reaffirms that the deal is a well-considered decision beneficial to the country.<\/p>\n<p>\u201cFor the avoidance of doubt, the\u00a0mining\u00a0lease was granted for 15 years to Barari, which is the subsidiary of Atlantic Lithium Limited, an Australian company listed on the Australian Securities Exchange (ASX) and also on the Alternative Investment Market (AIM) of the\u00a0London\u00a0Stock Exchange. The lease covers an area of 42.63 Km2 in and around Ewoyaa in the Mfantseman Municipality of the Central Region.\u201d<\/p>\n<p>\u201cThe Commission notes in spite of the publication of the lease which is now widely available to the general public, it has become increasingly clear that the commentators have not read the agreement in its entirety and as result many of concerns are based on assumptions that are inaccurate and assertions that are not supported by facts or any data.\u201d<\/p>\n<p>Key stakeholders, including the Institute of Economic Affairs (IEA) and former\u00a0Chief Justice\u00a0Sophia Akufo, have criticised the contract as colonial and Guggisberg-type, respectively. These concerns\u00a0stem\u00a0from the mining agreement signed on October 20, 2023, between Ghana and Barari DV Ghana Limited.<\/p>\n<p>The $250-million project, is set to commence production by 2025.<\/p>\n<p>The deal includes a 10% royalty and 13% free carried interest by the state, surpassing the existing 5% and 10%, respectively, for other mining agreements.<\/p>\n<p>Barari DV Ghana Limited is also required to contribute 1% of its revenue to a community\u00a0development\u00a0fund for the upliftment of the mining area. While some, including statesman and business executive Sir Sam Jonah, have praised the government for securing better fiscal terms, sceptics, especially the IEA, remain cautious about the agreement.<\/p>\n<p>3news.com<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Minerals Commission\u00a0asserts that the\u00a0lithium\u00a0deal between the government of\u00a0Ghana\u00a0and Barari DV Ghana Limited is in the best interest of the nation. In a press statement issued on Monday, December 4, the Commission emphasised that the government thoroughly examined all available options before entering into the\u00a0agreement. The statement underscored that several concerns raised about the deal are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":127172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-127171","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Minerals Commission backs gov\u2019t over deal, says it\u2019s in Ghana\u2019s best interest \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/12\/04\/minerals-commission-backs-govt-over-deal-says-its-in-ghanas-best-interest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minerals Commission backs gov\u2019t over deal, says it\u2019s in Ghana\u2019s best interest \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Minerals Commission\u00a0asserts that the\u00a0lithium\u00a0deal between the government of\u00a0Ghana\u00a0and Barari DV Ghana Limited is in the best interest of the nation. 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