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Mali Strikes Deal With China's Ganfeng to Operate Major Lithium Mine

CC0 / / Lithium Batteries
Lithium Batteries - Sputnik Africa, 1920, 18.05.2024
Ganfeng Lithium is a Chinese mining, chemical and metallurgical company; the country's largest producer of lithium salt and the second-largest producer of lithium products in China.
The transitional government of Mali signed an agreement with China's Ganfeng Lithium to manage one of Africa's largest lithium mines, Goulamina, the West African country's economy ministry said in a statement.
"This mutually beneficial agreement protects the vital interests of the Malian people and establishes a new partnership with the Chinese group Ganfeng Lithium for the development and exploitation of the Goulamina lithium project, one of the largest lithium projects in Africa and the world," the statement said.
Under the agreement, the Chinese company will also build a spodumene plant, which is expected to start production by the end of the year, the ministry added.
The agreement also raises the share of state and national stakeholders in the project from 20% to 35%, increasing the mining sector's contribution to the national budget, the transitional government added.
"This increased participation [...] will significantly contribute to funding the development of the mining and energy sectors, infrastructure, and transportation, as well as local development," the statement said.
The ministry also reiterated the vision of the transitional government that "mineral resources belong to the people and should contribute to the country's development."
Amadou Keita, Malian minister of mines - Sputnik Africa, 1920, 26.03.2024
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Last August, Mali's Interim President Assimi Goita signed a new mining code aimed at increasing the government's share of mining revenues. Under the new legislation, state and local investors should receive 35% of mining initiatives, which could increase the industry's contribution to the country's GDP by around 20%, the president said. Previously, the industry's income to the state was 20%.