Former Speaker Prof. Mike Oquaye Criticises Lithium Mining Agreement, Calls for Higher Royalties

Former Speaker of Parliament, Professor Mike Oquaye, has criticised the lithium mining agreement between the government and Barari DV, describing the royalty framework as unfair and not in Ghana’s best interest.

His comments follow the withdrawal of the revised lithium agreement from Parliament on December 10, which was intended to allow for further stakeholder consultations.

The move came after concerns from the Majority in Parliament that the proposed 10 per cent royalty rate, negotiated under the Akufo-Addo administration, conflicted with the Minerals and Mining (Amendment) Act, 2010, which caps royalties at 5 per cent.

Speaking in an interview with Channel One TV on Monday, December 15, Prof. Oquaye argued that public debate should extend beyond the question of whether the royalty rate should be 10 per cent or 5 per cent. He stressed that Ghana needs to fundamentally rethink how it negotiates returns from its natural resources.

“Some people view the withdrawal purely in terms of the royalty percentage, from 10 per cent to 5 per cent,” he said. “But this 5 per cent has existed for a long time, and it reflects a persistent failure to protect national interests in the extractive sector.”

Prof. Oquaye expressed frustration that Ghana continues to accept minimal returns from high-value minerals.

“It is very painful to see that we possess valuable resources and yet we allow no more than 5 per cent in royalties. Who does that? Honestly, we have not been fair to our nation at all,” he said, suggesting that the country should aim for minimum royalties of at least 20 per cent.

The lithium agreement, initially presented to Parliament by Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah, concerns the exploration and mining of lithium and other minerals at Mankessim in the Central Region.

The deal has reignited discussions about Ghana’s mineral governance framework and the need for stronger terms that maximise national benefit.