Adnan Adams Mohammed
The Ghana Chamber of Mines has pledged its support to the government’s efforts to diversify the country’s mineral portfolio and boost value addition along the battery supply chain.
This commitment follows reports of potentially mineable nickel deposits discovered in the Oti Region. The discovery emerged from ongoing iron ore exploration activities conducted by the Ghana Integrated Iron and Steel Development Corporation (GIISDEC) and the Ghana Geological Survey Authority.
Preliminary drill samples have revealed nickel concentrations exceeding 1%, a threshold considered commercially viable, positioning Ghana to potentially join the global race for critical minerals. Although certified laboratory results are still pending, officials have described the initial data as promising.
“We need to wait for more details from the Minerals Commission to determine the size and commercial viability of the deposit. If it proves economically viable, the government has mechanisms for engaging investors, and we are prepared to support these efforts,” the Acting CEO of the Ghana Chamber of Mines, Dasana Nantogmah, said reaffirming the Chamber’s readiness to collaborate with the government to explore and develop the new resource.
“Successfully developing this resource could diversify our portfolio, create jobs, and generate revenue to advance Ghana’s development agenda.”
Meanwhile, Mr Nantogmah urged the government to scrap the Value Added Tax (VAT) on exploration activities.
“Our position has always been clear: exploration is the lifeblood of mining. Without exploration, mining cannot occur. The discovery of nickel is a direct result of exploration. However, exploration companies are currently burdened with VAT on key activities like assaying and drilling. We have consistently engaged the government on the need to remove VAT to encourage more exploration,” he noted.
The Chamber of Mines also called on Parliament to expedite the ratification of Atlantic Lithium Limited’s Ewoyaa mining lease, cautioning that further delays could have serious consequences for the company and its stakeholders. However, suggesting that the terms of the lease may require a review, given the recent slump in global lithium prices.
Since 2016, Atlantic Lithium has invested approximately US$70 million into the development of what is set to become Ghana’s first lithium mine. The project, located in the Central Region, was expected to position Ghana among the world’s top 10 producers of spodumene concentrate, a key source of lithium.
However, a sharp decline in lithium prices—dropping by more than 80% from their peak in November 2022—has cast a shadow over the project’s future prospects.
In an interview with Citi Business News, the Acting CEO of the Chamber, Ahmed Dasana Nantogmah, stressed the urgent need for ratification to prevent further disruptions.
“When you look at the concessions under the deal, the precious price concessions were different. Now the prices have fallen. They have to look at it,” Nantogmah explained. “Recently, Atlantic Lithium had to lay off staff because of the delay, so you can understand the repercussions. Any contracts that were signed while awaiting ratification may now have to be abrogated or renegotiated.
“The impact is significant across the entire value chain—for stakeholders, companies, and even communities that were anticipating income and employment opportunities. These benefits will remain stalled until the deal is ratified in a way that is both economically and socially sustainable.”
Nantogmah also expressed the Chamber’s support for the government’s decision to implement a one-year transitional arrangement with Gold Fields regarding the takeover of the Damang Mine.
“We believe it opens the door for negotiations, dialogue, and broader stakeholder engagement, demonstrating that Ghana is a law-abiding country where concessions cannot be forcibly taken. Agreements must be reached through negotiation and mutual understanding,” he said.
“This is a positive development, and we look forward to continuing dialogue that will shape the policy direction of Ghana’s mining industry.”
