Persons who think lithium agreement is good have undue benefits from the deal – Sophia Akuffo

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Former Chief Justice Sophia Akuffo has insisted that the lithium agreement Ghana signed is not in the best interest of the country.

She explained that it is only persons who have certain undue benefits from the deal that will say the deal is beneficial.

“This deal is not the best,” she was quoted by 3news.com.

She asserted that “People’s undue benefits must be floating around somewhere that is why somebody will find this a perfect, wonderful lease agreement. There are all forms of extraction methods that are much better, a lease is not necessarily the best methodology, there are so many other best methodologies. There is a joint venture, there is a service contract, and that even the service contract of many different permutations.”

The former Chief Justice said Ghana could have negotiated a better deal while emphasizing that the deal shortchanges the country.

“This deal is not the best for Ghana. It is like percentages, what is the base figure? If you are from some super miserable formulation to this then we will say that is the best Ghana has had. Yes, maybe it is but it is not the best Ghana could have had,” she pointed out.

Ghana signed a 15-year lease agreement with lithium mining company Barari DV company.

The deal includes a 10% royalty and 13% free carried interest by the state, surpassing the existing 5% and 10%, respectively, for other mining agreements.

Although some persons have lauded the agreement, other key stakeholders have argued that it is not beneficial to the country.

By: www.ghanaweb.com