{"id":132812,"date":"2023-12-19T12:28:31","date_gmt":"2023-12-19T12:28:31","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/19\/ghana-chamber-of-mines-advocates-prudent-dialogue\/"},"modified":"2023-12-19T12:28:31","modified_gmt":"2023-12-19T12:28:31","slug":"ghana-chamber-of-mines-advocates-prudent-dialogue","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/19\/ghana-chamber-of-mines-advocates-prudent-dialogue\/","title":{"rendered":"Ghana Chamber of Mines advocates prudent dialogue \u2013"},"content":{"rendered":"

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The Ghana Chamber of Mines has called for measured and thoughtful discussions surrounding Ghana\u2019s lithium deal, emphasising the need for diverse perspectives to contribute positively to the project\u2019s outcomes.<\/p>\n

In a press release, the Chamber expressed concern about inaccurate portrayals suggesting that the mining sector is a disadvantage to the country in terms of mineral rent distribution.<\/p>\n

Contrary to these claims, the Chamber highlighted the substantial value retained in-country through employment opportunities and purchases from local suppliers within the mining sector.<\/p>\n

Citing various studies, the Chamber noted that a significant proportion of mineral rents accrues to the government, with a model by the Natural Resource Governance Institute indicating that the government\u2019s share is \u201cjust over 50%\u201d.<\/p>\n

The Chamber underscored that the current practice of combining fiscal inflows from the mining sector with other taxes in the Consolidated Fund obscures the developmental impact of the industry.<\/p>\n

To address this, the Chamber advocated for enhanced visibility to showcase the positive contributions of the mining sector to national development.<\/p>\n

In the context of the lithium deal, where Ghana seeks to participate in the production of a crucial component for electric vehicle batteries, the Chamber urged stakeholders to engage constructively, considering the potential impacts on the country\u2019s ability to attract private capital for responsible mineral development.<\/p>\n

The background of the situation involves the Ghanaian government approving its first lithium mine operated by Barari DV Ghana Limited, a subsidiary of Australia-based Atlantic Lithium Limited.<\/p>\n

The project, situated at Ewoyaa on Ghana\u2019s southern coast, holds strategic importance as the global demand for electric vehicle batteries rises.<\/p>\n

As part of the deal, Ghana increased the royalty rate to 10% and the state\u2019s interest in the project to 13%, reflecting the nation\u2019s commitment to navigating the evolving landscape of the mining industry.<\/p>\n

Source:\u00a0<\/strong>classfmonline.com<\/p>\n

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

The Ghana Chamber of Mines has called for measured and thoughtful discussions surrounding Ghana\u2019s lithium deal, emphasising the need for diverse perspectives to contribute positively to the project\u2019s outcomes. 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