Business News of Friday, 12 July 2024
Source: www.ghanaweb.com
Director of Barari DV Ghana Limited, Ben Nunoo Mensah, has called for a re-look at Ghana's mining laws to prioritize local content participation and protect local interests.
He argued that many mining communities in Ghana continue to experience a rather low perspective on socio-economic development, compared to the levels of mining activities in those areas.
Speaking on The Lowdown on GhanaWeb TV with host Daniel Oduro, the Barari DV director, who owns a 10% stake in Ghana's lithium concession, said, "If we continue to abide by our existing mining laws, which have not been beneficial to our people, then all the excitement of discovering new natural resources will amount to nothing.
"Ghanaians have inherited these natural resources, which belong to us. For example, consider how our gold resources have been managed. Gold has not greatly benefited us as a people, as seen in places like Iduapriem Tarkwa and others which are among the most deprived areas in the country," he explained.
He added that this situation has been caused by the current mining laws in the country, which he believes need to be reviewed to ensure that citizens in these mining communities benefit significantly, rather than mining companies that collect all the revenue and resource only to repatriate the proceeds abroad.
Ben Nunoo Mensah is the only Ghanaian who owns a 10 percent share in Ghana’s lithium project.
He also doubles as the President of the Ghana Olympic Committee (GOC).
As part of efforts to mine the latest natural resource (lithium) located in the Central Region, the government has granted a concession to Atlantic Lithium, an Australian mining company.
The company has since secured a 15-year permit for the lithium mining project in October 2023.
Half of the lithium produced at Ewoyaa will be sent to a refinery of US-based Piedmont Lithium, which is Atlantic’s second-largest shareholder and has agreed to provide most of the funds for building the mine.
Watch the video below:
MA/AE
Watch the latest edition of BizTech below:
Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.
Click here to follow the GhanaWeb Business WhatsApp channel