Ghana’s hopes of becoming a major player in the global transition minerals industry will depend more on strong governance than on the discovery of lithium and other critical minerals, according to the Natural Resource Governance Institute (NRGI).
As global demand rises for minerals used in electric vehicles, battery storage systems and renewable energy technologies, Ghana is seeking to position itself within the growing battery minerals value chain. However, NRGI warns that mineral wealth alone will not guarantee long-term economic transformation.
The Institute argues that transparency, regulatory certainty, accountability and strong institutions will be critical if Ghana is to secure meaningful benefits from its transition minerals resources.
“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,” NRGI stated.
The warning comes amid ongoing discussions over Ghana’s lithium development plans, particularly the future of the Ewoyaa lithium project and the broader framework governing transition minerals.
According to NRGI, attracting investors is important, but investment by itself does not guarantee jobs, industrial growth or increased national revenue. Without effective oversight, countries risk exporting raw minerals while capturing only a fraction of the value generated further along the supply chain.
The Institute noted that Ghana must avoid repeating challenges seen in parts of its traditional mining sector, where questions have persisted over local value creation, industrial linkages, community benefits and revenue mobilisation despite decades of mineral extraction.
For NRGI, transition minerals present both an opportunity and a test. If managed strategically, resources such as lithium could support industrialisation, local processing, skills development and stronger public finances. If not, Ghana could find itself once again exporting raw materials while higher-value activities take place elsewhere.
The Institute has urged policymakers to adopt a pragmatic approach to value addition. While countries such as Indonesia are often cited for successfully developing downstream processing industries, NRGI cautions that Ghana should not simply replicate foreign models without considering its own reserves, infrastructure, market conditions and technical capacity.
Instead, the Institute recommends an evidence-based strategy that focuses on understanding resource potential, strengthening fiscal frameworks, improving technical expertise and negotiating agreements that serve Ghana’s long-term interests.
NRGI also believes 2026 presents a critical opportunity for Ghana to strengthen its lithium governance framework as authorities prepare to revisit the Ewoyaa mining agreement.
At the centre of the debate is how Ghana can balance investor incentives with national benefits. With lithium prices experiencing significant volatility in recent years, mining companies have sought terms that reflect changing market conditions. However, civil society organisations and policy experts have cautioned against granting concessions that could limit Ghana’s future gains should prices recover.
To address this challenge, NRGI has supported flexible fiscal mechanisms such as sliding-scale royalties, which allow government revenues to increase during periods of high prices while protecting project viability when markets weaken.
The Institute has also highlighted the importance of contract transparency, beneficial ownership disclosure and strict monitoring of commitments related to local processing and value addition.
According to NRGI, one of the biggest risks facing Ghana is the possibility that minerals could continue to be exported in raw or semi-processed form, leaving the country outside the most profitable segments of the battery supply chain.
The organisation stressed that commitments to local processing must be backed by clear timelines, investment obligations and enforcement mechanisms rather than remaining aspirational provisions in mining agreements.
Beyond mining policy, NRGI believes Ghana must clearly define how transition minerals fit within its wider industrialisation agenda. Questions remain over whether priority should be placed on refining, battery component manufacturing, industrial parks, local procurement, skills development or other value-capture strategies.
The Institute further argues that Ghana could gain a competitive advantage by establishing strong environmental, social and governance standards as international buyers increasingly seek responsibly sourced minerals.
Achieving this, however, will require stronger monitoring of mining operations, environmental impacts, labour standards, community relations and revenue management, supported by institutions capable of enforcing regulations consistently.
NRGI notes that several state institutions already play oversight roles in the mining sector, including the Ministry of Lands and Natural Resources, the Minerals Commission, the Environmental Protection Agency, the Ghana Revenue Authority, the Minerals Income Investment Fund and Parliament. However, overlapping responsibilities and weak coordination can undermine accountability.
For Ghana to maximise the benefits of transition minerals, the Institute believes responsibilities must be clearly defined and citizens must be able to track whether commitments made by government and investors are being fulfilled.
Ultimately, NRGI argues that the global energy transition presents a rare opportunity for mineral-rich countries, but success will depend on more than geology. Countries that benefit most will be those with strong institutions, disciplined policymaking and the ability to negotiate and enforce agreements that serve national development goals.
