The Majority Caucus in Parliament is pushing for an amendment to the Minerals and Mining Act, 2006 (Act 703), to enable Ghana maximise revenue from its mineral resources, especially lithium.
Chairman of the Lands and Natural Resources Committee, Collins Dauda, said the current legal regime, which pegs royalty payments at a fixed rate of 5 percent, restricts the country’s ability to negotiate better deals.
Speaking to journalists in Parliament, Mr. Dauda referenced the 10 percent royalty agreement initially approved by the Akufo-Addo administration for Barari DV Ghana Limited’s lithium operations.
He explained that although the 10 percent rate was favourable to Ghana, it conflicted with Act 703, which allows only a 5 percent royalty charge.
Mr. Dauda noted that the Lands and Natural Resources Minister, Emmanuel Armah Kofi Buah, recently submitted a revised lithium agreement to Parliament to reflect the legally required 5 percent royalty.
The revision, however, has sparked criticism from the Minority, who insist the new terms offer fewer benefits to the state.
He said Parliament is working to review the Minerals Act and related mining policies to ensure clarity, consistency, and adherence to national laws.
“As gatekeepers, we make the laws, and we expect the laws to be implemented and obeyed. We cannot make laws and at the same time do something that runs against them,” he said.
The proposed amendment is expected to introduce a fair and flexible royalty structure for all mining firms and increase Ghana’s earnings from its mineral resources.
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