Deputy Ranking Member on the Lands and Natural Resources Committee of Parliament, Akwasi Konadu, has alleged that the government’s withdrawal of the lithium agreement was driven by weak negotiation rather than pricing concerns, contrary to the explanation offered by officials.
Government on Wednesday, December 10, announced the withdrawal of the agreement, citing the need for broader consultations with key stakeholders.
Responding to the decision, Konadu dismissed the official justification, describing it as a smokescreen for what he believes was a poorly negotiated deal.
“Let us not go on the tangent of pricing. It is a charade. It is not because the prices have come down, but because we negotiated badly,” he said.
He questioned why government would attribute the withdrawal to shifts in global mineral prices when agreements for other minerals remain intact despite similar market volatility.
“What are they going to do now that the price of gold has gone up? Are they going to vary the negotiation they had with the gold mining companies — AngloGold, Newmont, and the rest? No! It is based on a percentage that was agreed on and ratified by Parliament,” he argued.
Konadu further rejected government’s earlier claim that the deal was influenced by provisions in Act 703, later amended to Act 900, insisting that poor negotiation—not legal limitations—was the root cause of the withdrawal.
He urged the government to return to Parliament with a stronger, more beneficial agreement that adequately safeguards Ghana’s interests as the country moves to develop its emerging lithium industry.
