Former Speaker of Parliament, Professor Mike Oquaye, has criticised the lithium mining agreement between government and Barari DV, describing the royalty framework underpinning the deal as unfair and disadvantageous to the country.
His remarks follow the withdrawal of the revised lithium agreement from Parliament on December 10 to allow for further stakeholder consultations.
The decision came after concerns raised by the Majority in Parliament that the proposed 10 per cent royalty rate negotiated under the Akufo-Addo administration conflicts with the Minerals and Mining (Amendment) Act, 2010, which provides for a 5 per cent royalty ceiling.
Speaking in an interview on Channel One TV on Monday, December 15, Prof. Oquaye argued that the public debate should not be narrowly focused on whether the royalty rate should be 10 per cent or 5 per cent.
Instead, he said Ghana must fundamentally rethink how it negotiates returns from its natural resources.
According to him, settling for a minimum royalty of 5 per cent reflects a long-standing failure to protect national interests in the extractive sector.
“The present withdrawal is quite interesting because some people have viewed it in the context of the royalty percentage, from 10 per cent to 5 per cent. But this 5 per cent has existed for some time,” he said.
Prof. Oquaye expressed frustration that Ghana continues to accept low returns from high-value minerals.
“It’s very painful to envisage that we have something that has got value, and then we say, when you take this commodity, don’t give me more than 5 per cent. Who does that?
“Honestly, we have not been fair to our nation at all,” he stated, adding that the country should be negotiating minimum royalties of at least 20 per cent.
The lithium agreement, initially presented to Parliament by the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, relates to the exploration and mining of lithium and other minerals at Mankessim in the Central Region.
The deal has sparked renewed debate about Ghana’s mineral governance framework and the need for stronger terms to maximise national benefit.
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