Dr. Emmanuel Steve Asare Manteaw, the Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), has alleged that the lithium deal negotiated by the previous administration was the best the country has ever seen in its mining sector.
While the country’s mining sector continues to evolve, a prominent voice in the industry, Dr. Manteaw stepped forward to defend a previous lithium deal that has garnered significant attention among the stakeholders and the country at large.
Dr. Manteaw’s comments come at a time when the current government is reportedly seeking to renegotiate the terms of the lithium deal, which was initially rejected by the same individuals when they were in opposition few years back.
However, the esteemed expert believes that the previous deal should be upheld, as it represented a significant step forward in the country’s mining industry.
“Now, when you come to the mining sector, we don’t have a single lease that actually allows us or entitles us to a share of the production. So we wait, as and when companies declare dividends, that’s when we get something out of our carried interest. Now, look at the lithium contract, and you see that we have a participating interest, for the first time in the history of our mining industry. So from where I sit, it was a good deal.”
Dr. Emmanuel Steve Asare Manteaw
Ewoyaa Lithium Deal
The Ewoyaa Lithium project, located in the Central Region, has been at the center of this ongoing debate.
The project, which is a significant mining agreement between the government of Ghana and Barari DV, a subsidiary of the Australian-listed company, Atlantic Lithium, was initially negotiated by the previous government and presented to Parliament for ratification.
However, the then-opposition party, the NDC, rejected the deal on the floor of Parliament, citing concerns over the fiscal terms. Now, with the tables turned, the current opposition, the NPP, finds itself in the position of also kicking against the renegotiated agreement.
Dr. Manteaw’s stance on the matter has put him at odds with the current minority, the NPP, who now believe they have a case against the deal.
The Co-Chair of GHEITI argues that the previous deal was far better than any other contract the country has seen in the mining sector, and it is puzzling to see the current government seeking to water down the fiscal terms.
Lithium Relevance
The significance of this lithium deal cannot be overstated. Lithium, a critical mineral in the production of electric vehicles and energy storage systems, has been identified as a strategic resource for Ghana’s economic growth.
The successful development of the Ewoyaa lithium project reserves the potential to position the country as a major player in the global lithium market, attracting foreign investment and generating much-needed revenue.
Dr. Manteaw’s unwavering support for the previous deal reflects his deep understanding of the mining industry and the importance of securing favorable terms for the country.
He argued that the current global lithium prices, which have seen a substantial collapse, have thrown the viability of the project into question, further emphasizing the need to maintain the initial agreement.
While the debate over the Ewoyaa Lithium project continues, Dr. Emmanuel Steve Asare Manteaw’s voice stands out as a seasoned expert in the mining sector.
His endorsement of the previous deal, which he believes was the best in Ghana’s mining history, challenges the current government’s stance and underscores the importance of upholding agreements that serve the country’s long-term economic interests.
The outcome of this negotiation will have far-reaching implications for Ghana’s mining sector and its ability to capitalize on the growing global demand for critical minerals like lithium.
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