The Natural Resource Governance Institute (NRGI) is urging the Government of Ghana to critically evaluate Atlantic Lithium’s request for tax concessions on the Ewoyaa lithium project, citing falling global prices and the need for transparency and fiscal responsibility.
Speaking during a two-day media engagement in Koforidua, the NRGI said Ghana must ensure that any tax breaks granted to the company are economically sound and serve the long-term interests of the country, especially in light of declining lithium prices. Since the original agreement was signed in 2023, prices have dropped from over $1,000 to around $700 per tonne—prompting Atlantic Lithium to seek a revision of fiscal terms to move the project forward.
The NRGI is calling for the adoption of a sliding scale royalty regime that adjusts based on production levels or commodity prices, ensuring that the country does not miss out on revenue during boom periods while offering relief during downturns. Ghana Country Manager of NRGI, Denis Gyeyir, said the proposed changes must be backed by strong economic justification that considers both the company’s profitability and the government’s fiscal sustainability.
The Institute is also demanding full public disclosure of the assumptions Atlantic Lithium is using to justify its concession request, urging authorities to prioritize transparency, reduce exposure to tax avoidance, and secure the country’s fair share of lithium revenues.
The Ewoyaa project, one of West Africa’s most promising lithium discoveries, positions Ghana as an emerging player in the global electric vehicle and clean energy value chain. While this presents opportunities for job creation and new revenue streams, the NRGI emphasized that success will depend on responsible resource governance, informed public debate, and a fair fiscal regime that integrates value addition and sustainability.
NRGI Communications Officer for Africa, Damilare Ogunmowo, stressed the role of the media in shaping public understanding of the lithium sector, adding that public awareness is key to demanding accountability and ensuring that resource wealth translates into tangible development outcomes.
