Mali has launched the Goulamina lithium mine, one of Africa’s largest, in collaboration with Chinese mining giant Ganfeng Lithium. The mine, located in the West African nation, is expected to produce 500,000 tons of spodumene concentrate annually, with an estimated lifespan of 23 years.
The project is majority-owned by Ganfeng Lithium, which holds a 65% stake, while the Malian government retains a 30% share and local investors hold the remaining 5%. The initiative operates under Mali’s revised 2023 mining code, which emphasizes domestic ownership and the inclusion of local companies. “We believe Africa will be the next good opportunity for lithium,” said Wang Xiaoshen, president of Ganfeng, in a prior statement to Benchmark Source.
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To ensure local economic benefits, Malian firms are set to secure at least 51% of subcontracting contracts linked to the project. A portion of the mine’s $160 million estimated annual revenue will fund infrastructure projects in energy, transportation, and water, according to APA News.
The Goulamina mine, initially co-owned by Australian firm Leo Lithium, became fully controlled by Ganfeng after Leo Lithium divested its remaining interest in the project. Ganfeng is a key global lithium supplier, holding agreements with major automakers such as Tesla, Hyundai, and Volkswagen, along with partnerships in battery production for marine and aviation applications.
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In August 2024, Ganfeng entered a $500 million joint venture with Turkish battery manufacturer YiÄit AkĆ¼ to produce lithium batteries. The Chinese company has also significantly expanded its in-house production, committing to an additional 15 billion yuan in two battery factories in 2023.
Africa’s lithium reserves are increasingly attracting global attention. The Goulamina project ranks as the sixth-largest lithium initiative on the continent, with significant competition from projects in Zimbabwe, the Democratic Republic of Congo, and South Africa.
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Ganfeng’s involvement highlights its strategy to secure resources for electric vehicle (EV) and battery manufacturers amid growing global demand for lithium. “The batteries made from Ganfeng supply are not only going towards electric cars,” the company stated, referencing diverse applications such as marine and aviation industries.
Source: apanews.net