Ghana’s Cabinet has approved a new policy for the exploitation, management, and regulation of lithium and other green minerals in the country.
Often referred to as “minerals of the future”, green minerals are metals and other mineral resources that are needed to support the transition to clean energy technologies aimed at reducing carbon emissions.
A wide range of minerals that fall under the umbrella of green minerals include bauxite, cobalt, copper, lithium, granite, manganese, and nickel.
The Minister for Lands and Natural Resources, Hon.Samuel A Jinapor said this in an interview with the media on Thursday, 3rd August, 2023 that Cabinet approved the policy on July 27, 2023 after a rigorous interrogation.
Hon. Jinapor noted that the new policy would insist on a higher level of local participation in the green minerals value chain as opposed to the 10 percent vested interest the state had currently in mining entities.
He added that the overarching goal of the new policy was anchored on the principle that the exploitation of green minerals must benefit Ghanaians who were the true owners of the resource.
The Minister stressed that the policy was also focused on putting in place incentives and measures to attract the needed investments, adding that stabilisation clauses, development agreements, and other measures would be put in place to give investors the comfort to put their resources in the sector.
He indicated that, aside from green minerals such as bauxite, manganese, granite and cobalt, Ghana has discovered commercial quantities of lithium, especially at Ewoyaa in the Central Region.
Hon. Jinapor explained that contrary to reports that some licences had been issued for mining lithium, the government had not given out any licences.
“No person or company has any permit or licence to mine or exploit lithium. The licences that were granted were for exploration, which is different from exploitation”, he emphasized.
The Minister said, although the next stage was to mine the mineral resources, government’s focus was to put in place the policy framework before moving into mining.
Globally, it is estimated that the lithium industry alone is valued at US$ 11 billion at the mining stage, with the value of the industry at the highest end estimated at US$ 7 trillion.
