Chinese lithium producer Ganfeng Lithium will start production at a spodumene processing plant – located at the Goulamina lithium project in southern Mali – by the end of 2024. The company also signed an agreement with the government of Mali to hand over operatorship of the mine, with the state increasing its stake in the project from 20% to 35%.
The agreement aligns with the country’s recently implemented Mining Code, which allows the government to take a 10% stake in new mining projects, with the option of purchasing an additional 20% within the first two years of operation. The deal is estimated to bring an additional $191.51 million in annual revenue for the country.
“With this win-win agreement, which defends the vital interests of the Malian people, the State of Mali enters into a new partnership with the Chinese group Ganfeng Lithium for the development and operation of the Goulamina lithium project,” stated Mali’s Ministry of Economy and Finances.
