The Lands and Natural Resources Minister, Samuel Abu Jinapor, has described as most unfortunate comments by the former Chief Justice, Sophia Akuffo on Ghana’s Lithium deal.
Speaking at a press conference on Thursday, Mr Jinapor refuted Sophia Akuffo’s claims that the government had not secured the best possible deal for Ghana.
He highlighted the unprecedented 10% royalty rate, the 19% state participation in Barari DV Limited, and the inclusion of a clause mandating the establishment of a lithium refinery within Ghana as evidence of the government’s commitment to maximizing the benefits of the project.
“Suffice for me to point out that it is the first time in the history of our country that we have successfully negotiated for 10 percent royalties for any mineral which is one of the highest for the exploration of any mineral across the world.”
He added that the government has also secured 19 percent state participation in Barari DV Limited, the mining company in the contract which is projected to rise to 30 percent by the end of the contract.
“We 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.”
Former Chief Justice Sophia Akuffo insisted that the Lithium agreement that Ghana has signed is not the best for the nation.
In her view, the only way some people will say it is good for the country is because someone is going to have undue benefit from the agreement.
“People’s undue benefits must be floating around somewhere that is why somebody will find this a perfect, wonderful lease agreement. There are all forms of extraction methods which are much better. A lease is not necessarily the best methodology, there are so many other best methodologies.
“There is a joint venture, there is a service contract and even a service contract of many different permutations. This deal is not the best for Ghana,” She said in an interview on TV3.