By Elsie Appiah-Osei
Accra, July 17, GNA — The global price of lithium has dropped from $3,000 to $675, according to Lands and Natural Resources Minister Mr. Emmanuel Armah Kofi Buah.
This significant drop, according to the minister, has impacted the progress of a lithium project being undertaken by Barari DV in Ghana.
Mr. Armah Buah told Parliament on Wednesday in a response to a question asked by Dr. Ebenezer Prince Arhin, the National Democratic Congress (NDC) Member of Parliament for Mfantseman.
Dr. Arhin asked the minister about the efforts the ministry was making to ratify the Ewoyaa Lithium Agreement.
“Mr. Speaker, a mining lease agreement was signed between the Government of Ghana and Barari DV Ghana Ltd. on October 20, 2023, for a 15-year term ending October 19, 2038.
“However, the agreement remains unratified by Parliament after the House adjourned for the December 2024 general election,” he said on the Floor of Parliament.
Mr. Armah Buah noted that the fall in lithium prices had led Barari DV to request a revision of the agreement terms earlier this year.
According to the sector minister, the Committee on Lands and Natural Resources of Parliament convened a stakeholder meeting over the lithium agreement, but no report was written before the House adjourned Sine die.
Meanwhile, some critics, including renowned journalist Mr. Kwesi Pratt Jnr., have expressed reservations about Ghana’s lithium deal with Barari DV Ltd., citing concerns over the country’s limited lithium mining potential.
Additionally, the Mass Action for Sustainable Development (MASDA) has called for a re-examination of the lithium mining lease agreement, deeming it “unacceptable and not fit for purpose.”
“Mr. Speaker, the government has indicated openness to alternative agreements, which could help mitigate the impact of the price drop,” the minister said.
GNA
Christian Akorlie