Lithium production in Mali: The government clarifies the signing of the agreement with the Chinese company Ganfeng Lithium CO, Leo lithium and Firefinch
The Minister of the Economy and Finance and the Minister of Mines of the Republic of Mali inform national and international public opinion that, following a series of negotiations, the State of Mali has concluded an agreement with the companies GANFENG LITHIUM CO, LEO LITHIUM and FIREFINCH for the resolution of the Morila crisis on the one hand, and the exploitation of lithium at Goulamina on the other.
The crisis arose from serious shortcomings in FIREFINCH's management of the Morila gold mine, with implications for the Goulamina lithium mine.As part of the management of this crisis, the State of Mali obtained partial compensation from the Australian operator FIREFINCH, following its failings in the management of the mine. It is understood that the Government's approach was motivated by a concern to save the Morila mine with a view to its future re-launch, and to preserve jobs for our compatriots.
The conclusion of this agreement, which is the culmination of the renegotiation of the Goulamina lithium contract in application of the 2023 Mining Code, has enabled the State and Nationals to increase their stake to 35% from the previous 20%. The increase in the State's stake and the application of other provisions of the new Mining Code will enable, among other things: - an increase in the mining sector's contribution to the State budget; - a significant additional contribution to financing the development of the mining and energy sectors, infrastructure and transport, as well as local development.
With this win-win agreement, which defends the vital interests of the Malian people, the State of Mali enters into a new partnership with the Chinese group GANFENG LITHIUM CO for the development and operation of the Goualamina lithium project, one of the largest lithium projects in Africa and the world.In addition, the new Chinese partner GANFENG LITHIUM CO, one of the world's largest producers of lithium, lithium batteries and lithium-derived products, will set up a spodumene plant which will start production by the end of the year.
On this happy occasion, the Government of Mali recalls the Vision of His Excellency Colonel Assimi GOITA, President of the Transition, Head of State, according to which mineral resources belong to the people and must be used for the country's development. It is in application of this Vision that a new Mining Code, as well as the law on local content, were adopted in 2023.The Government of Mali reassures GANFENG LITHUIM CO, as well as all players in the mining sector, of its willingness to encourage and guarantee a win-win partnership with all investors.Signed in Bamako on May 17, 2024.Minister of Economy and FinanceAlousséni SANOUMinister of MinesPr. Amadou KEITA
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