Former Chief Executive Officer of the Minerals Commission, Dr Toni Aubynn, has criticised Ghana's recent agreement for the development of lithium resources at Ewoyaa in the Central region.
The one-time President of the Chamber of Mines, Mr Aubynn, in a post on social media stated, "Ghana failed to take advantage of the current importance and demand for lithium," emphasising that the announced increase in royalty rate and free carried interest pales in comparison to global demand.
Highlighting the contrast with countries like Mexico and Australia, Mr Aubynn noted that they have chosen to develop their lithium and critical minerals for 100% or majority interest, citing Australia's recent $4 billion direct investment in such development.
Toni Aubynn pointed out that many countries are creating new frameworks for critical minerals, whereas Ghana's recent mineral deal lacked transparency and offered only a marginal increase in benefit sharing for lithium.
Expressing his disappointment, he stated, "Our present agreement is a lost opportunity to exact optimal benefit for Ghana, given the criticality and present global demands for lithium and other critical minerals."
Aubynn urged a shift from existing postcolonial mining frameworks to ones responsive to current global and local situations, emphasising the strategic importance of lithium surpassing that of hydrocarbons and gold.
Civil society groups, including the Institute of Economic Affairs (IEA), the clergy and IMANI, are up in arms against the government over the deal.
Their concerns echo Mr Aubynn's sentiments, highlighting the need for a more comprehensive and beneficial approach to the development of Ghana's lithium resources.
The criticism from both industry experts and civil society adds pressure on the government to reassess the terms of the agreement in the face of the growing importance of lithium in the global market.
Latest Stories
-
East Legon crash: Police pursue TikTokers for ‘false claims’ about Salifu Amoako’s son’s location
24 mins -
Severe food shortage force some SHSs to serve repetitive meals
33 mins -
Don Julio 1942 launched by Guinness Ghana Breweries with an enchanting Halloween Ball celebration
35 mins -
3 Central Region MCEs intensify cholera control efforts after 5 deaths
41 mins -
Bawumia’s 12 ‘Bold Steps’ to expand educational opportunities for all
42 mins -
Mahama criticises NPP for accumulating energy debt to pass on to next NDC gov’t
43 mins -
Agromonti empowers Techiman farmers with sustainable agriculture training in CSR event
48 mins -
Ghanaians deserve certificates for enduring hardship under NPP – Mahama
49 mins -
AG’s office needs 1,500 public attorneys for proper discharge of functions – Godfred Dame
50 mins -
Court sentences man to life imprisonment for murdering girlfriend; daughter
1 hour -
Bawumia’s $80 bn value claim for Spotify, false – Dubawa
1 hour -
GBA President calls for transparent and fair December election
2 hours -
November 8 not a public holiday – Interior Ministry
2 hours -
Policies the Church can promote to ensure every birth by a congregant is wanted, not unintended
2 hours -
Next NPP government to build new AG offices in all regions – Godfred Dame
2 hours