Goulamina Lithium Mine: Transforming Mali’s Mining Industry
China’s Ganfeng Lithium has officially commenced production at the Goulamina spodumene project in Mali. This marks a milestone for one of Africa’s largest lithium mines. This significant step follows Ganfeng’s acquisition of a 40% stake in the project from Australia’s Leo Lithium for $342.7 million in May 2023.
The Goulamina mine represents a game-changer for the region. It is expected to produce 15.6 million tonnes of spodumene concentrate over its estimated 23-year lifespan. The initial phase targets an annual production of 506,000 tonnes of lithium concentrate, with plans to double output to 1 million tonnes during the second phase.
A Strategic Partnership for Ganfeng Lithium and Mali
The development of Goulamina comes in the wake of Mali’s updated mining code introduced in 2023. Under the new regulations, the Malian government secured a 10% free carry stake and retained the right to purchase an additional 25%. Recently, the government announced its intention to acquire a 35% stake in the mine. Once finalised, this move will leave Ganfeng with a 65% stake, while Mali strengthens its role as a key stakeholder.
Mali’s transitional President Assimi Goita hailed the project as a turning point for the nation’s economy, stating that the Goulamina mine is pivotal for leveraging Mali’s natural resources. Chinese Ambassador to Mali, Chen Zhihong, echoed this sentiment, describing the project as a “win-win cooperation” during the inauguration ceremony.
