Ewoyaa Lithium Lease: IEA questions Ghana's approach to resource ownership
The Institute of Economic Affairs (IEA) raised concerns over the ratification of the Ewoyaa Lithium mining lease by Parliament and the passage of the new Minerals and Mining Royalty Regulations. On March 25, 2026, Sophia Akuffo, a Distinguished Fellow of the IEA, described the developments as 'troubling,' warning that it robs Ghanaians of their rightful share of the extractive sector. Sophia Akuffo said, "Ghana must have full ownership of its natural and mineral resources; and must exercise this ownership right by engaging private sector local and foreign expertise strictly through service contracts that preserve national control and maximize benefits for the country's industrial transformation."
The mining lease has been ratified by Parliament, marking the country's first lithium mining lease. It grants Atlantic Lithium exclusive rights to mine and produce lithium for an initial 15-year period, renewable under national law. The lease includes fiscal terms aligned with current legislation, and a new regulation outlines a sliding scale for royalty rates for lithium projects in Ghana. The project aims to produce 3.6 million tons of spodumene concentrate over 12 years, requiring a total investment of $185 million.
The new regulation sets new sliding-scale royalties which caps gold and lithium at 12% and all other earth minerals at 5% based on global prices. Sophia Akuffo said the 15-year lease granted to Barari DV Ltd, a subsidiary of Atlantic Lithium, forces Ghana to remain "under the same old colonial system of royalties."
Quick Summary
The IEA, led by Sophia Akuffo, questions the Ewoyaa Lithium mining lease ratified by Parliament- along with the new mining regulations. The concern revolves around Ghana's approach to resource ownership and whether the nation is getting its fair share.
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