Ghana’s Parliament has received a revised Mining Lease from Atlantic Lithium Limited for its Ewoyaa Lithium Project.
The Select Committee on Lands and Natural Resources is going to review the lease, marking a key step towards project ratification.
Lithium, a key mineral in electric vehicle batteries and renewable energy storage, is expected to drive Ghana’s industrialisation plans.
The Central region’s Ewoyaa Project has attracted keen interest from Civil Society Organisations and other stakeholders since lithium is seen as the major mineral resource the nation can reap from, aside from gold.
The revised Mining Lease incorporates fiscal terms following consultations led by the Minister of Lands and Natural Resources with relevant stakeholders, aligning the project’s royalty rate and Growth and Sustainability Levy with current legislated rates in Ghana.
The revised lease reflects the country’s mining code which is anticipated to propel investor confidence while giving equitable returns to the state.
Meanwhile, the sector Minister, Emmanuel Armah-Kofi Buah, has also submitted another Legislative Instrument, the Minerals and Mining (Royalty) Regulations, 2025, to Parliament.
This new L.I. outlines a sliding scale of royalty rates for lithium projects depending on spodumene prices.
Key under the proposed framework requires;
- Spodumene priced up to US$1,500 per tonne attracts a 5% royalty
- Prices between US$1,501 – US$2,500 per tonne attract a 7% royalty
- Prices between US$2,501 – US$3,000 per tonne attract a 10% royalty
- Prices above US$3,000 per tonne attract a 12% royalty
All other fiscal terms in the Mining Lease granted in October 2023 remain unchanged. Following Parliament’s festive recess, the Select Committee is expected to undertake its review of the revised Mining Lease in the new year before making recommendations for or against ratification.
Lithium: A billion-dollar mineral, a withdrawn Bill, and a country at a crossroads
