{"id":130603,"date":"2023-12-13T11:02:32","date_gmt":"2023-12-13T11:02:32","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/"},"modified":"2023-12-13T11:02:32","modified_gmt":"2023-12-13T11:02:32","slug":"the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/","title":{"rendered":"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013"},"content":{"rendered":"

<\/p>\n

\n

The Director of Research at the Institute of Economic Affairs (IEA),\u00a0Dr John Kwakye, has told the government to take its time to ensure that Ghanaians get a good deal in the Liithium lease that it signed.<\/strong><\/p>\n

Until the country gets a good deal, he said the mineral resource should be left to remain in the soil.<\/p>\n

\u201cWhy is the\u00a0Minister\u00a0and his bosses rushing with the\u00a0lithium\u00a0lease? We want enough time to get the best lease for\u00a0Ghana. Until then, the lithium can stay underground and the Minister can exit office,\u201d he wrote on his X platform while reacting to a comment by the Minister of Lands and Natural Resources Samuel\u00a0Abu Jinapor\u00a0who assured Ghanaians that the government would not allow the export of\u00a0lithium\u00a0in its raw state.<\/p>\n

Mr Jinapor said the government had infused in the lithium\u00a0agreement\u00a0with Barari DV\u00a0Ghana\u00a0Limited a clause that ensures the retention of a significant part of the\u00a0mining\u00a0value chain locally.<\/p>\n

Addressing a press briefing on Ghana\u2019s First Lithium Contract, Terms, Benefits and the Way Forward on Thursday, December 7, Mr Jinapor insisted that the Lithium\u00a0Mining\u00a0Lease includes provisions for the establishment of a refinery and the provision of the lithium by-products to local industries, hence the decision to process lithium locallly was in the best interest of the state.<\/p>\n

The Minister enlisted significant advantages expected from the implementation of the Lithium deal, disclosing that the execution of the contract will give Ghana 10 percent in the form of royalties which will be one of the highest in the country\u2019s mineral exploration history.<\/p>\n

He added that the government has also secured 19 percent state participation in Barari DV Limited, which is projected to scale up to 30 percent by the end of the contract.<\/p>\n

\u201cWe have already secured 19 percent state participation in this mining company with the requirement to scale it up to a minimum of Ghanaian participation through listing on the Ghana Stock Exchange for shares to be made available to Ghanaians and Ghanaian entities.\u201d<\/p>\n

Mr Abu Jinapor affirmed that the lithium contract is in the ultimate interest of all Ghanaians.<\/p>\n

The Chief Executive Officer for Minerals\u00a0 Commission, Martin Ayisi, pointed out that the critical statements made by some individuals on the deal stems from a lack of thorough reading of the\u00a0agreement, noting that many of the concerns raised are based on inaccurate assumptions and unsupported assertions.<\/p>\n

Mr. Ayisi explained that the $250 million project, located in Ewoyaa, Mfantseman Municipality in the\u00a0Central Region, is set to commence production by 2025.<\/p>\n

The deal includes a 10 percent royalty and 13 percent free carried interest by the state, surpassing the existing 5 percent and 10 percent, respectively, for other mining agreements.<\/p>\n

He noted that the Barari DV Ghana Limited is also required to contribute 1 percent of its revenue to a community\u00a0development\u00a0fund for the upliftment of the mining area.<\/p>\n

Mr. Edward NanaYaw Koranteng, Chief Executive for Minerals Income Investment Fund (MIIF), spelt out a number of financial benefits to Ghanaians, saying MIIF identified opportunities of undervalued share at the time of closing the transaction with the locked in price of USD per share, and intrinsic value ranging of usd 1.25 to usd 1.9 per share .<\/p>\n

\u201cMIIF has already made a 31% gain in its planned investment in the lithium deal,\u201d he added.<\/p>\n

3news.com<\/p>\n

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

The Director of Research at the Institute of Economic Affairs (IEA),\u00a0Dr John Kwakye, has told the government to take its time to ensure that Ghanaians get a good deal in the Liithium lease that it signed. Until the country gets a good deal, he said the mineral resource should be left to remain in the […]<\/p>\n","protected":false},"author":1,"featured_media":130604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-130603","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nThe lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \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\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Director of Research at the Institute of Economic Affairs (IEA),\u00a0Dr John Kwakye, has told the government to take its time to ensure that Ghanaians get a good deal in the Liithium lease that it signed. Until the country gets a good deal, he said the mineral resource should be left to remain in the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-13T11:02:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"210\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/\",\"name\":\"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013 - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg\",\"datePublished\":\"2023-12-13T11:02:32+00:00\",\"dateModified\":\"2023-12-13T11:02:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#primaryimage\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg\",\"contentUrl\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg\",\"width\":300,\"height\":210},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ghanamma.com\/2023\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2023\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\/\/www.ghanamma.com\/2023\"],\"url\":\"https:\/\/www.ghanamma.com\/2023\/author\/ghanamma\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013 - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/","og_locale":"en_US","og_type":"article","og_title":"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013 - Ghanamma.com","og_description":"The Director of Research at the Institute of Economic Affairs (IEA),\u00a0Dr John Kwakye, has told the government to take its time to ensure that Ghanaians get a good deal in the Liithium lease that it signed. Until the country gets a good deal, he said the mineral resource should be left to remain in the […]","og_url":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/","og_site_name":"Ghanamma.com","article_published_time":"2023-12-13T11:02:32+00:00","og_image":[{"width":300,"height":210,"url":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg","type":"image\/jpeg"}],"author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/","url":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/","name":"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013 - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2023\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg","datePublished":"2023-12-13T11:02:32+00:00","dateModified":"2023-12-13T11:02:32+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/12\/Dr-John-Kwakye.jpg","width":300,"height":210},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2023\/12\/13\/the-lithium-should-remain-in-the-soil-until-we-get-a-good-deal-ieas-kwakye\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2023\/"},{"@type":"ListItem","position":2,"name":"The lithium should remain in the soil until we get a good deal \u2013 IEA\u2019s Kwakye \u2013"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2023\/#website","url":"https:\/\/www.ghanamma.com\/2023\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2023\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2023"],"url":"https:\/\/www.ghanamma.com\/2023\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts\/130603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/comments?post=130603"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts\/130603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/media\/130604"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/media?parent=130603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/categories?post=130603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/tags?post=130603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}