Charles Owusu has complimented government for securing a 10 percent royalties on the country's minerals, particularly in the deal concerning the mining of lithium.
The Minister for Lands and Natural Resources, Samuel Abu Jinapor has assured the nation that the deal between government and Barari DV Ltd, a subsidiary of Atlantic Lithium Ltd, to mine Ghana's lithium has significant advantages revealing that the execution of the contract will give Ghana 10% of royalties which, to him, is one of the highest in the country’s mineral exploration history.
“This lease differs from all previous mining leases in many respects. It is the first time in the history of our country that we have successfully negotiated for 10 per cent royalties for any mineral, which is one of the highest for exploitation of any mineral across the globe,” he said at Meet-the-Press series organised by the Ministry of Information.
He also emphasized that the government has secured a 19 percent State participation in the mining company.
"We have already secured 19 percent state participation in this mining company with the requirement to scale it up to a minimum of Ghanaian participation through listing on the Ghana Stock Exchange for shares to be made available to Ghanaians and Ghanaian entities," the Minister expounded.
Touching on the deal during Peace FM's "Kokrokoo" morning show, Charles Owusu expressed delight over the involvement of the State in the mining of lithium at Ewoyaa in the Central Region and the royalties Ghana will accrue from this deal.
However, he charged the Ministry to prioritize Ghanaian-owned companies in the mining of minerals in the country, stressing should local businesses be granted licence, "it will not only be 10% that will come to Ghana but 90 percent".
He condemned the culture where Ghanaian-owned companies will have to go through lots of challenges to acquire necessary documents to exploit the natural resources unlike foreign companies which are given much privilege and latitude to operate.
"It is time to allow Ghanaians to participate in everything the nation has and if there is something of value in it that can benefit the nation, we will reap the benefits," Charles Owusu appealed to the sector Minister.