Keypoints:
- Parliament withdraws draft lithium agreement
- IMANI critique triggers governance overhaul
- Revised Ewoyaa deal faces scrutiny
GHANA’S Parliament has withdrawn the proposed lithium mining agreement that had been awaiting ratification, pausing the country’s most politically charged minerals negotiation in years and opening the way for a broader reassessment of how the state manages its emerging lithium sector. The reversal on December 10 follows IMANI Africa’s recent policy engagement with the Presidency and comes as debate intensifies over the amended Ewoyaa lithium agreement with Atlantic Lithium.
IMANI welcomed the withdrawal, saying it creates space for a more deliberate, evidence-led process. Franklin Cudjoe, President of IMANI, said: ‘This pause is not a setback; it is an opportunity for Ghana to rethink how we govern our most strategic minerals. A deal of this magnitude must be anchored in transparency, fair valuation and long-term national interest.’
The move arrives as Ghana prepares to revisit the amended Ewoyaa lease — now at the centre of a national dispute over fiscal terms, valuation, governance and the country’s broader green-minerals strategy.
IMANI’s intervention triggers a governance reset
IMANI’s leadership met President John Dramani Mahama on December 2 at his request, outlining concerns that the earlier framework lacked transparency and robust protections. The delegation — Cudjoe, Vice President for Innovation and Technology Selorm Branttie and Senior Research Associate Dennis Asare — argued that structural weaknesses could leave Ghana exposed to revenue losses and governance failures.
In a detailed policy position submitted on December 8, the think tank said the withdrawn agreement fell short of best practice. Branttie explained: ‘The previous framework did not provide sufficient clarity on pricing, equity protection or environmental oversight. Without these safeguards, Ghana risked repeating the governance mistakes that have characterised past extractive ventures.’
IMANI also challenged the government’s claim that the country is bound to a fixed five percent royalty rate. Asare noted: ‘The assertion that Ghana is bound to a five percent royalty is inaccurate. The law provides a baseline, not a ceiling. For strategic minerals such as lithium, the state has every right — and indeed a responsibility — to negotiate terms that reflect their global importance.’
The organisation argues that lithium, as a transition mineral central to the global energy shift, demands a modern governance framework distinct from Ghana’s traditional mining regime. Cudjoe put it clearly: ‘Lithium cannot be governed with frameworks designed for gold and other traditional minerals. Ghana needs a modern regime tailored to the realities of today’s energy-transition economy.’
Revised Ewoyaa deal heightens national scrutiny
Parliament’s withdrawal coincides with heated debate over the amended Ewoyaa agreement between the state and Barari DV, a subsidiary of Atlantic Lithium. Government spokesperson Felix Kwakye Ofosu has defended the revisions, saying the drastic fall in global lithium prices since 2023 has made the original fiscal structure unworkable.
Speaking on JoyNews’ PM Express late November, he said: ‘The initial projections were based on market prices that no longer hold. Lithium prices have fallen significantly. The investor cannot raise the funds needed unless the terms reflect this new reality.’
Lithium prices, which once exceeded $2,800 per tonne, dropped below $900 in 2024. Kwakye Ofosu argued that reducing the royalty to five percent restores compliance with Ghana’s Minerals Act, which prescribes that rate for hard-rock minerals.
IMANI raises concerns over fiscal value and industrialisation
IMANI strongly disputed the government’s stance, warning that the revised Ewoyaa framework risked locking Ghana into low returns during potential future price recoveries. Branttie said: ‘Lithium is a price-volatile mineral. Fixing royalties at a flat rate means Ghana earns less when the market rises. A sliding-scale mechanism is the only way to ensure the public shares in the upside.’
The organisation further criticises diluted industrialisation commitments and the absence of clear downstream investment guarantees. Asare said: ‘Industrialisation cannot be based on aspiration alone. If Ghana intends to build a value-addition ecosystem, the fiscal and regulatory architecture must incentivise real investment, not merely signal intent.’
Pricing transparency is another key issue. Cudjoe cautioned: ‘Opaque off-take pricing exposes Ghana to significant transfer-pricing risks. Without transparent benchmarks, the country has no guarantee that it is receiving fair value for its lithium.’
Communities push for urgency as Parliament weighs options
Communities near the Ewoyaa project, anxious for jobs and development, have grown impatient with delays. Kwakye Ofosu acknowledged the pressure: ‘I receive representations from the chiefs and people almost every day. They want this project to move.’
IMANI insists community expectations must be matched with robust protections. Asare noted: ‘Communities deserve clarity and progress, but they also deserve a deal that protects their future. Rushing into an agreement without proper safeguards risks undermining the very development they have been waiting for.’
A turning point for Ghana’s green-minerals future
IMANI will meet the Parliamentary Committee on Lands and Natural Resources this week to present its full recommendations. The think tank says the next phase will determine whether Ghana positions itself as a credible participant in the global energy transition or repeats past extractive-sector missteps.
Cudjoe concluded: ‘Parliament’s responsibility now is to ensure that Ghana’s first lithium agreement becomes a model for the governance of green minerals, not a cautionary tale of missed opportunity.’
