According to Mining, on December 16, Ganfeng Lithium held a commissioning ceremony for the first phase of its Goulamina project in Mali, Africa. Phase one of the project boasts an annual production capacity of 506,000 tons of lithium concentrate, with projections to reach 1 million tons upon completion of phase two. With an operational lifespan exceeding 23 years, the project is expected to yield a total output of 15.6 million tons of lithium concentrate.
In May 2024, Ganfeng Lithium acquired a 40% stake in the Goulamina lithium mine for $342.7 million. Under Mali’s new mining law, the Malian government plans to hold a 35% stake in the mine, including a 10% free carry interest and an option to purchase an additional 25%. Mali’s President Assimi Goïta emphasized at the ceremony that the project holds strategic significance for Mali’s national economic growth.
The Goulamina project represents a significant breakthrough in lithium resource development and brings substantial employment opportunities and economic growth to Mali. However, implementing the new mining law has raised concerns among investors regarding the regulatory environment and the government’s revenue-sharing model. To ensure the project’s long-term success, Ganfeng Lithium plans to prioritize environmental protection, responsible mining practices, and equitable benefit-sharing throughout its operations, aiming to set a global benchmark for sustainable lithium resource development.
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