{"id":129040,"date":"2023-12-08T18:33:43","date_gmt":"2023-12-08T18:33:43","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/08\/10-things-ghana-stands-to-benefit-from-deal-with-barari-dv\/"},"modified":"2023-12-08T18:33:43","modified_gmt":"2023-12-08T18:33:43","slug":"10-things-ghana-stands-to-benefit-from-deal-with-barari-dv","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/08\/10-things-ghana-stands-to-benefit-from-deal-with-barari-dv\/","title":{"rendered":"10 things Ghana stands to benefit from deal with Barari DV \u2013"},"content":{"rendered":"

<\/p>\n

\n

The government, through the Ministry of Lands of Natural Resources, signed a lithium lease agreement with Barari DV Ghana Limited to explore and mine the mineral at Ewoyaa, a town in the Central Region.<\/p>\n

Even though the deal has faced several public and organisational backlashes, here are some of the 10 outlined benefits Ghana stands to gain from the current lease agreement.<\/p>\n

The following details are made available via a summarised form of the deal, as shared by Legal Counsel to President\u00a0Nana Addo Dankwa Akufo-Addo, Kow Essuman.<\/p>\n

Exceptional Deal: 10% royalties, surpassing the 5% norm<\/strong><\/p>\n

Ghana will secure 10% in royalties from the lithium mining operations. This is 5% more than what Ghana gets from other minerals.<\/p>\n

Empowering Ghana: 13% free carried interest above the standard 10%<\/strong><\/p>\n

Beyond the standard 10%, Ghana will receive an additional 13% free carried interest, empowering the country economically and ensuring a more favourable distribution of benefits.<\/p>\n

Strategic Shares: 6% in Barari DV and 3% in Atlantic Lithium held by IMF<\/strong><\/p>\n

The International Monetary Fund (IMF) will hold 6% in Barari DV and 3% in Atlantic Lithium, providing Ghana with strategic shares that could foster international collaboration and financial stability.<\/p>\n

Influence Voice: 2 board seats at Barari DV, 1 at Atlantic Lithium<\/strong><\/p>\n

Ghana stands to gain influence with 2 board seats at Barari DV and 1 at Atlantic Lithium, allowing the country to actively participate in decision-making processes.<\/p>\n

Stock Market Representation: 11% to share reserves for Ghanaians on Ghana Stock Exchange<\/strong><\/p>\n

The lease agreement allocates 11% of the shares to be reserved for Ghanaians on the Ghana Stock Exchange, promoting local investment and participation in the burgeoning lithium industry<\/p>\n

Community Commitment: 1% to Community Development Fund<\/strong><\/p>\n

An aspect of the deal involves allocating 1% of the profits to a Community Development Fund, ensuring that the Ewoyaa community benefits directly from the mining activities.<\/p>\n

Fair Contribution: 35% Corporate Tax plus additional taxes<\/strong><\/p>\n

Barari DV is committing to a significant financial contribution, with a 35% corporate tax rate along with additional taxes, further enhancing the government\u2019s revenue stream.<\/p>\n

Value-Added Policy: No raw lithium export, only refined products<\/strong><\/p>\n

To foster local industry and value addition, the agreement stipulates that only refined lithium products \u2013 not raw materials, can be exported, encouraging the growth of downstream industries.<\/p>\n

Industrial Growth: Construction of a Lithium Refinery plant<\/strong><\/p>\n

The lithium lease agreement includes provisions for the construction of a Lithium Refinery Plant, signalling a commitment to industrial growth and local value addition.<\/p>\n

Additional Benefits: Feldspar by-product for Ghana\u2019s ceramic industry<\/strong><\/p>\n

In a move that could positively impact Ghana\u2019s ceramic industry, the mining operations are expected to yield a feldspar by-product, providing raw materials for local manufacturing.<\/p>\n

NW\/AE<\/p>\n

Below is the full agreement Mineral Commission has with Barari DV<\/strong><\/p>\n

The government, through the Ministry of Lands of Natural Resources, signed a lithium lease agreement with Barari DV Ghana Limited to explore and mine the mineral at Ewoyaa, a town in the Central Region.<\/p>\n

Even though the deal has faced several public and organisational backlashes, here are some of the 10 outlined benefits Ghana stands to gain from the current lease agreement.<\/p>\n

The following details are made available via a summarised form of the deal, as shared by Legal Counsel to President Nana Addo Dankwa Akufo-Addo, Kow Essuman.<\/p>\n

Exceptional Deal: 10% royalties, surpassing the 5% norm<\/p>\n

Ghana will secure 10% in royalties from the lithium mining operations. This is 5% more than what Ghana gets from other minerals.<\/p>\n

Empowering Ghana: 13% free carried interest above the standard 10%<\/p>\n

Beyond the standard 10%, Ghana will receive an additional 13% free carried interest, empowering the country economically and ensuring a more favourable distribution of benefits.<\/p>\n

Strategic Shares: 6% in Barari DV and 3% in Atlantic Lithium held by IMF<\/p>\n

The International Monetary Fund (IMF) will hold 6% in Barari DV and 3% in Atlantic Lithium, providing Ghana with strategic shares that could foster international collaboration and financial stability.<\/p>\n

Influence Voice: 2 board seats at Barari DV, 1 at Atlantic Lithium<\/p>\n

Ghana stands to gain influence with 2 board seats at Barari DV and 1 at Atlantic Lithium, allowing the country to actively participate in decision-making processes.<\/p>\n

Stock Market Representation: 11% to share reserves for Ghanaians on Ghana Stock Exchange<\/p>\n

The lease agreement allocates 11% of the shares to be reserved for Ghanaians on the Ghana Stock Exchange, promoting local investment and participation in the burgeoning lithium industry<\/p>\n

Community Commitment: 1% to Community Development Fund<\/p>\n

An aspect of the deal involves allocating 1% of the profits to a Community Development Fund, ensuring that the Ewoyaa community benefits directly from the mining activities.<\/p>\n

Fair Contribution: 35% Corporate Tax plus additional taxes<\/p>\n

Barari DV is committing to a significant financial contribution, with a 35% corporate tax rate along with additional taxes, further enhancing the government\u2019s revenue stream.<\/p>\n

Value-Added Policy: No raw lithium export, only refined products<\/p>\n

To foster local industry and value addition, the agreement stipulates that only refined lithium products \u2013 not raw materials, can be exported, encouraging the growth of downstream industries.<\/p>\n

Industrial Growth: Construction of a Lithium Refinery plant<\/p>\n

The lithium lease agreement includes provisions for the construction of a Lithium Refinery Plant, signalling a commitment to industrial growth and local value addition.<\/p>\n

Additional Benefits: Feldspar by-product for Ghana\u2019s ceramic industry<\/p>\n

In a move that could positively impact Ghana\u2019s ceramic industry, the mining operations are expected to yield a feldspar by-product, providing raw materials for local manufacturing.<\/p>\n

NW\/AE<\/p>\n

Below is the full agreement Mineral Commission has with Barari DV<\/p>\n

Source: www.ghanaweb.com<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The government, through the Ministry of Lands of Natural Resources, signed a lithium lease agreement with Barari DV Ghana Limited to explore and mine the mineral at Ewoyaa, a town in the Central Region. Even though the deal has faced several public and organisational backlashes, here are some of the 10 outlined benefits Ghana stands […]<\/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-129040","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n10 things Ghana stands to benefit from deal with Barari DV \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\/08\/10-things-ghana-stands-to-benefit-from-deal-with-barari-dv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"10 things Ghana stands to benefit from deal with Barari DV \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The government, through the Ministry of Lands of Natural Resources, signed a lithium lease agreement with Barari DV Ghana Limited to explore and mine the mineral at Ewoyaa, a town in the Central Region. 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