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Ghana Olympic Committee president is a shareholder in Barari DV – Lands Minister confirms

Ghana Olympic Committee president is a shareholder in Barari DV

The Minister of , Mr , has confirmed that Mr Ben Nunoo Mensah, President of the Ghana Olympic Committee, is the beneficiary owner of a 4.4 per cent shareholding in Barari DV Ghana Ltd, a subsidiary of Atlantic Lithium Limited.

The minister clarified that Mr Nunoo Mensah's stake in the company dates back to 2012 and dismissed speculation that any member of the -led Government owns shares in Barari DV Ghana.

The confirmation comes in response to a challenge by Mr , the Communication Officer of the National Democratic Congress (), for the government to disclose the identity of the individual holding a 4.4 per cent stake in Barari DV Ghana Ltd.

Minister Jinapor made the statement during a stakeholder engagement with in on the Lithium deal.

Minister Jinapor asserted 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 encouraged open dialogue among academia, civil society organizations, and other stakeholders to collectively find positive ways forward in managing natural resources.

Highlighting the government's approach to the Lithium Lease Agreement, Minister Jinapor emphasized the development of a policy framework for green minerals, including lithium, before negotiations.

The framework requires a minimum seven per cent royalty rate, higher than that accepted for other minerals.

In the Lithium Lease Agreement with Barari DV Ghana Limited, the State has a 19 per cent Free Carried Interest with the option to scale up to a minimum of 30 per cent.

Other terms include 13 per cent royalties (higher than the previous 10 per cent), 35 per cent corporate income tax, and contributions to a Community Development Fund.

Minister Jinapor clarified that the Lease Agreement must go through for consideration and ratification before validation.

Regarding local processing of lithium ore, the government proposed establishing a refinery either by Barari DV Ltd or a third party to ensure the nation benefits from the entire value chain of lithium exploitation.

The stakeholder engagement aimed to provide accurate information and gather actionable recommendations to guide parliamentary debates on the proposed Lithium Agreement.

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

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