Ghana has taken a decisive step into the global battery minerals race after Parliament approved a mining lease agreement with Barari DV Ghana Limited, unlocking the country’s first large-scale lithium project.
The deal grants the company a 15-year renewable licence to mine lithium in the Mankessim area of the Central Region, marking a shift in Ghana’s extractive sector as it seeks to capitalise on surging demand for minerals critical to clean energy technologies.
At the centre of the agreement is an improved fiscal framework aimed at increasing national benefit. Government will hold a 12 percent free carried interest, while royalties will be determined by a sliding scale linked to global lithium prices, rising to a ceiling of 12 percent. The arrangement is intended to ensure that the country earns more during periods of high commodity prices.
The lease also includes provisions for local participation and development. A dedicated community fund, financed by one percent of annual revenue, is expected to support infrastructure and livelihoods in affected areas. The company is further required to prioritise local employment and comply with environmental standards.
Despite these provisions, the agreement did not pass without contention. Members of the Minority questioned the robustness of the financial assumptions underpinning the deal, arguing that Parliament approved the lease without a comprehensive picture of its long-term revenue implications.
With parliamentary approval secured, focus now shifts from policy to practice. Key next steps include compensation for affected communities, mobilisation of project financing, and the eventual commencement of construction and production.
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