Former Majority Leader and Suame MP Osei Kyei-Mensah-Bonsu has urged Parliament to quickly pass Ghana’s lithium agreement to seize the opportunities presented by the global lithium market.
Speaking at a stakeholder forum on September 3, 2024, Mr. Kyei-Mensah-Bonsu underscored the need for urgent legislative action, pointing out the limited nature of lithium resources and the risks of delays.
He warned that Ghana could miss out on substantial economic gains if decisions are not made promptly.
“With the rising global demand for lithium, crucial for electric vehicle batteries and renewable energy storage, Ghana risks losing its chance to benefit from its lithium reserves if action isn’t taken swiftly,” he said.
Mr. Kyei-Mensah-Bonsu stressed that inaction could lead to Ghana’s lithium assets becoming stranded and failing to boost the nation’s economic development.
“We need to act decisively to prevent our lithium resources from becoming stranded. Lithium is finite, and the opportunity to leverage it may close sooner than anticipated,” he cautioned.
While calling for prompt legislative approval, Mr. Kyei-Mensah-Bonsu also advised that the agreement be negotiated carefully to ensure Ghana maximizes its benefits from its lithium deposits and secures optimal outcomes for the nation.