Speaking to NorvanReports during a media engagement on Ghana’s Lithium Fiscal Regime and Refinery Efforts, NRGI Country Manager, Dennis Gyeyir, emphasised that any revisions to terms agreed in 2023 must be grounded in feasibility studies that demonstrate both commercial sustainability for the company and fiscal prudence for the state.

“Any fiscal concessions must be supported by an economic feasibility study that shows the company will not be disadvan­taged, but also that the govern­ment will not lose unnecessari­ly,”Mr Gyeyir stated.

“We’ve proposed a sliding scale royalty regime that adjusts with lithium price fluctuations,” she said.

Atlantic Lithium is reportedly seeking a revision of its tax obli­gations following a sharp drop in lithium prices—from over $1,000 per tonne at the time of contract signing to approximately $700 per tonne currently.

Mr Gyeyir further called for enhanced transparency and stron­ger data governance, arguing that Atlantic Lithium must disclose its assumptions and projections when requesting concessions.

“Government must undertake its own modelling—as we do at NRGI—to verify whether the company’s demands are justi­fied,” he said.

He stressed that while val­ue-added tax (VAT) concessions on critical equipment could be considered, broad exemptions must be avoided to safeguard revenue.

“VAT refunds are standard, but where possible, exemptions can be granted on specific capi­tal-intensive imports like plants and excavators,” he noted.

On the issue of refining lithium domestically, Mr Gyeyir maintained that current eco­nomic conditions render such a venture unviable.

However, he was clear that NRGI does not oppose refining in principle. Rather, it advocates a phased, policy-led approach grounded in industrial planning.

“We propose that government begin with a robust industri­al policy that includes human capital development, infrastruc­ture investment, and research for value addition,” he said.

Mr Gyeyir underscored the importance of linking future infrastructure such as energy from gas processing plants to the lithium refinery to improve viability.

He warned that water avail­ability could become a binding constraint, as Ghana Water Com­pany is already under strain and a refinery would require 90,000 litres daily.

“We’re not saying Ghana should abandon refinery ambi­tions. But government must lay the foundations first skills, power, water, and logistics—before pursuing such a capital-intensive venture,” he concluded.