Samuel Abu Jinapor, the Minister of Lands and Natural Resources, has confirmed that Ben Nunoo Mensah, President of the Ghana Olympic Committee (GOC), is the beneficial owner of the 4.4 percent shareholding in Barari DV Ghana Ltd, a subsidiary of Atlantic Lithium Limited.

The Minister clarified that Mr. Nunoo Mensah’s ownership dates back to 2012, refuting speculations that any member of the Akufo-Addo-led Government owns shares in Barari DV Ghana.

The clarification came in response to a challenge by Sammy Gyamfi, the Communication Officer of the National Democratic Congress (NDC), urging the government to disclose the identity of the individual holding a 4.4 percent stake in Barari DV Ghana Ltd.

Minister Jinapor emphasized that the government has nothing to hide regarding the Lithium Lease Agreement and is committed to engaging relevant bodies to ensure that Ghanaians benefit from the country’s resources.

He highlighted key aspects of the agreement, such as the policy framework developed for green minerals, a 19 percent Free Carried Interest with an option to scale up to a minimum of 30 percent, a 13 percent royalty rate, and other provisions aimed at ensuring the state benefits from lithium exploitation.

Jinapor stated that the Lease Agreement must go through Parliament for consideration and ratification before validation.

He also discussed the possibility of refining lithium ore locally, either by Barari DV Ltd or a third party, to maximize the nation’s benefits from the entire value chain.

Madam Nafi Chinery, Africa Director of the Natural Resource Governance Institute, emphasized the importance of engaging civil society organizations (CSOs) to provide actionable recommendations and inputs for parliamentary debates on the proposed Lithium Agreement.

Participants in the engagement called for amendments to the country’s mining and mineral laws to align with the terms agreed upon in the Lithium Agreement.