Ghana’s ambition to become a competitive global player in transition minerals faces significant risk without improved governance, according to the Natural Resource Governance Institute (NRGI). The institute warns that Ghana's success will depend on robust governance systems rather than just the excitement surrounding lithium and other critical minerals.
NRGI stresses that Ghana’s strategy for transition minerals must focus on transparency, clear regulatory frameworks, and institutional discipline. This approach is essential to capture meaningful economic value from the increasing global demand for minerals used in clean energy technologies. The warning comes as Ghana aims to position itself within the battery minerals value chain, responding to the global importance of lithium, bauxite, and manganese in industrial policy.
This concern fits into Ghana's broader economic narrative regarding resource management. Ghana has decades of experience in the extractive sector, particularly with gold and bauxite. However, public debate continues on whether mineral extraction has delivered sufficient domestic value, job creation, and public revenue. Transition minerals, therefore, represent both a new opportunity and a reminder of past challenges in resource management.
NRGI stated, "The success of Ghana’s transition minerals strategy will depend not only on attracting investment, but on building robust governance systems that ensure transparency, accountability, and equitable benefit sharing." This message is especially timely as Ghana discusses the future of the Ewoyaa lithium project and the overall framework for developing transition minerals. The global demand for critical minerals has grown, driven by the need for electric vehicles, battery storage, and renewable energy infrastructure.
Without strong governance, countries often export raw minerals and capture only a small fraction of the value created further along the supply chain. This can lead to revenue losses through weak fiscal terms, opaque contracts, and limited local participation. NRGI urges Ghana to avoid repeating errors from its gold and bauxite sectors, where questions remain about whether mineral extraction provided enough local value and public funds.
The institute emphasizes that treating lithium and other critical minerals merely as export commodities could cause Ghana to miss out on industrial and fiscal benefits. Instead, building a strong governance system could allow Ghana to use these minerals to support industrialization, local processing, skills development, and stronger public finances. NRGI has advised Ghana to base its strategy on national interest rather than imitating other nations.
NRGI previously cautioned that Ghana should analyze successes like Indonesia's nickel processing but not simply copy policies such as raw mineral export bans. Ghana’s lithium sector is at an earlier stage, with different reserve potential, processing economics, and investor interest. A poorly designed value-addition policy could deter investment without creating a viable domestic processing industry.
The institute recommends an evidence-led approach: thoroughly assess reserves, determine commercially viable processing options, strengthen fiscal terms, build technical capacity, and negotiate partnerships from a position of clarity. NRGI has identified 2026 as a crucial year for Ghana’s lithium governance, as the country plans to review the Ewoyaa lithium mining agreement. This period offers a critical window for Ghana to improve its fiscal and regulatory approach before a new deal is submitted to Parliament. The central challenge involves balancing investor returns with Ghana’s national benefits, especially amid volatile lithium prices.