Mali, Ganfeng ink deal for Goulamina lithium mine
The government of Mali has sealed a deal with Ganfeng Lithium for the operation of the Goulamina lithium mine. This deal is part of Mali’s revised mining code initiative aimed at increasing state revenue from mining activities. Under the new terms, Mali will see its stake in the Goulamina project rise from 20% to 35%.
The Chinese Company will establish a spodumene processing facility, with production expected to start by the end of the current year. This move is anticipated to provide a substantial boost to Mali’s economy. According to Mali’s Economy Minister Alousseni Sanou, the deal is projected to generate annual revenues of CFA Fr110bn–115bn ($191.51m) for the country.
Goulamina project
This agreement follows Ganfeng Lithium’s acquisition of a 40% interest in the Goulamina mine from Australia’s Leo Lithium for $342.7 million. Leo Lithium highlighted the security risks and the implications of Mali’s new mining code as key reasons for the sale, considering it the best decision for its shareholders.
The Goulamina project encompasses 100 square kilometers in the Bougouni region of southern Mali, which includes the Goulamina mineral deposit. This development reflects Mali’s strategic move to enhance its stake and control over its natural resources while partnering with international companies for technological and financial support.
