Mining investors are raising concerns over the delay in the ratification of the mining lease for the Ewoyaa Lithium Project in Ghana’s Central Region.
The lease, secured by Atlantic Lithium through its Ghanaian subsidiary, Barari DV Ghana Ltd, has been awaiting parliamentary ratification since it was first signed on October 20, 2023.
However, the agreement failed to receive approval at the time due to a political gridlock in Parliament.
A revised lease was later signed in 2025 and laid before Parliament on November 11, 2025. But concerns over a proposed reduction in the royalty rate from 10% to 5%, along with other aspects of the agreement, led the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, to withdraw the lease on December 10, 2025, for further consultations.
Nine days later, on December 19, 2025, the minister re-laid the mining lease before Parliament together with a proposed sliding royalty scale for minerals in Ghana.
Under the revised proposal, the royalty rate would range between 5% and 12%, depending on global lithium prices.
The lease was subsequently referred to Parliament’s Lands and Natural Resources Committee for further consultation and a report to the plenary for possible ratification.
However, after more than 25 parliamentary sittings and at least one committee meeting specifically focused on the lithium lease, there has been little visible progress and limited communication regarding the status of the process.
The delay is beginning to attract attention from global mining investors.
One major shareholder in Atlantic Lithium said the prolonged uncertainty is starting to affect confidence in Ghana’s mining sector.
“I’m gradually losing confidence in the country. Everyone is watching this situation. How can they promote Ghana to mining investors around the world and then fail to conclude such an important process at home?” the investor said.
Another shareholder noted that investor sentiment towards Ghana is already beginning to shift.
“Some investors have become increasingly negative about Ghana because they feel the process is moving too slowly. A few have even started selling their shares in Ghanaian mining companies,” the investor added.
Analysts say Ghana must carry out thorough due diligence on the lithium lease to ensure the agreement delivers maximum benefit to the country while remaining commercially viable for the company involved.
Achieving that balance will require careful negotiations and consultations. However, observers say greater transparency and regular updates on the process will be important in maintaining investor confidence.
Industry experts note that investors are more likely to commit capital in countries where regulatory processes are predictable, transparent, and efficient
