Ganfeng Lithium to transfer stake in lithium asset to Mali government
2024-12-06 16:08:14 [Print]
Ganfeng Lithium announced that it has received board approval to transfer a 35% stake in Lithium du Mali SA (LMSA), which is owned by the company's subsidiary GFL International Co., Ltd., to the government of the Republic of Mali.
Under Mali's national mining law, the country will get a 10% dry share in LMSA for free and pay 20 billion West African CFA franc (~32 million US dollars) to acquire a 25% stake in LMSA. Upon completion of the deal, Ganfeng Lithium will indirectly hold a 65% stake in LMSA, with the other 35% held by Mali government. In addition, Ganfeng Lithium and LMSA will enjoy favorable investment policies from Mali government, which will support the development of the second phase of Goulamina spodumene project.
The total JORC resource estimated for Goulamina project is approximately 211 million tonnes at 1.37% Li2O, containing 2.89 million tonnes of lithium oxide, and the measured resource is around 13.1 million tonnes at 1.59% Li2O, containing 210,000 tonnes of lithium oxide.
The first phase of Goulamina spodumene project has completed construction and moved into the commissioning phase.
Under Mali's national mining law, the country will get a 10% dry share in LMSA for free and pay 20 billion West African CFA franc (~32 million US dollars) to acquire a 25% stake in LMSA. Upon completion of the deal, Ganfeng Lithium will indirectly hold a 65% stake in LMSA, with the other 35% held by Mali government. In addition, Ganfeng Lithium and LMSA will enjoy favorable investment policies from Mali government, which will support the development of the second phase of Goulamina spodumene project.
The total JORC resource estimated for Goulamina project is approximately 211 million tonnes at 1.37% Li2O, containing 2.89 million tonnes of lithium oxide, and the measured resource is around 13.1 million tonnes at 1.59% Li2O, containing 210,000 tonnes of lithium oxide.
The first phase of Goulamina spodumene project has completed construction and moved into the commissioning phase.
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