Former Chief Executive Officer of the Minerals Commission, Dr Toni Aubynn, has criticised Ghana’s recent agreement for the development of lithium resources at Ewoyaa in the Central region.
The one-time President of the Chamber of Mines, Mr Aubynn, in a post on social media stated, “Ghana failed to take advantage of the current importance and demand for lithium,” emphasising that the announced increase in royalty rate and free carried interest pales in comparison to global demand.
Highlighting the contrast with countries like Mexico and Australia, Mr Aubynn noted that they have chosen to develop their lithium and critical minerals for 100% or majority interest, citing Australia’s recent $4 billion direct investment in such development.
Toni Aubynn pointed out that many countries are creating new frameworks for critical minerals, whereas Ghana’s recent mineral deal lacked transparency and offered only a marginal increase in benefit sharing for lithium.
Expressing his disappointment, he stated, “Our present agreement is a lost opportunity to exact optimal benefit for Ghana, given the criticality and present global demands for lithium and other critical minerals.”
Aubynn urged a shift from existing postcolonial mining frameworks to ones responsive to current global and local situations, emphasising the strategic importance of lithium surpassing that of hydrocarbons and gold.
Civil society groups, including the Institute of Economic Affairs (IEA), the clergy and IMANI, are up in arms against the government over the deal.
Their concerns echo Mr Aubynn’s sentiments, highlighting the need for a more comprehensive and beneficial approach to the development of Ghana’s lithium resources.
The criticism from both industry experts and civil society adds pressure on the government to reassess the terms of the agreement in the face of the growing importance of lithium in the global market.