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Armah-Kofi Buah Presents Revised Lithium Deal to Parliament
A heated debate erupted in Parliament on Tuesday, November 11, as Minister of Lands and Natural Resources Emmanuel Armah-Kofi Buah laid before the House a revised lithium mining agreement between the government and Barari DV Ghana Limited for approval.
The new deal covers the mining of lithium and other associated minerals at Mankessim in the Central Region but comes with changes driven by a sharp global decline in lithium prices that has shaken the viability of major mining projects worldwide.
Speaking to journalists after tabling the agreement, Mr Buah explained that the price of lithium had plummeted from about $3,000 per tonne to around $630, forcing several projects globally to stall.
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“The proponents of the project wrote to say there was no way they could go forward with the old agreement,” the minister said. “Almost every lithium project around the world has been halted because the profitability is no longer feasible.”
He said the revised terms were necessary to protect both national interests and local livelihoods, as lands had already been acquired and affected communities were awaiting the project’s commencement.
Under the new framework, the royalty rate, which had been raised from 5% to 10% due to previously high prices, will now revert to 5% until the market rebounds.
“We are thinking about jobs, empowering our people, and creating industries. This approach ensures the project moves forward while protecting Ghana’s long-term interests,” Mr Buah stated.
However, the revised agreement has drawn fierce opposition from the Minority, who argue that the deal offers nothing new compared to the earlier version presented under the previous administration.
Former Lands Minister and MP for Damongo, Samuel Abu Jinapor, called for the document to be rejected outright, insisting that “the terms of this new agreement are not different from what I presented to this House.”
Minority Leader Alexander Afenyo-Markin also accused the current government of hypocrisy and inconsistency:
“You told the people of Ghana that the lithium agreement was bad. Today, you have brought back the same agreement, only reducing the royalties while claiming credit for it.”
But Majority Leader Mahama Ayariga dismissed the Minority’s concerns, saying the move was in line with economic realities and national interest, urging Parliament to allow the process to continue.
Speaker Alban Bagbin, ruling on the matter, clarified that the initial agreement was never formally approved by the House. He referred the revised deal to the relevant parliamentary committee for scrutiny, inviting members to contribute before a final decision is made.
The Mankessim lithium project, Ghana’s first major commercial lithium venture, is seen as a potential game-changer for the economy — but its future now hangs in the balance amid political division and global market volatility.
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