The co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI), Dr Steve Manteaw, has lauded the government for its negotiations on the lithium mining deal even though it has been widely criticized by analysts.

According to him, his initial views on the benefits of the deal have revealed that this is one of the best deals the country has ever signed in its history of mineral extraction.

He said the increase in royalty payments and the country’s equity will also guard other mineral deals that the country may sign in the future.

“My preliminary assessment tells me that this is the best natural resource contract we have signed so far in the history of resource extraction in Ghana. So, it sets a certain baseline for negotiating future contracts.

“Let me say that it happened the same manner as Jubilee [oil field]. If you compare the contract signed with the jubilee partners and other subsequent ones, it tells you that over time we have improved in the various negotiations," he was quoted by myjoyonline.com.

Dr. Manteaw said this is also an indication that the country will not go back to days when the country takes 3% royalties.

"It also indicates that this country will not go back to the days we were signing 3.0% and 5.0% royalty payments and 10% carried interest,” he noted.


SSD/NOQ

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