New figures of the lithium project out!

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Mali Lithium Limited to mobilize USD 194 million to complete the financing of its construction project
By Daouda Bakary KONÉ


The mining company Mali Lithium Limited (MLL), recently named "FireFinch" based in Goulamina in southern Mali has an annual capacity to produce 436,000 tonnes of spodumene concentrate for at least 23 years. To achieve its objectives, it will have to mobilize an envelope of 194 million USD.

Through the result of its study unveiled in October 2020, the company will be able to deliver nearly 450,000 tonnes of lithium concentrate per year, with a revenue set at several billion dollars. To achieve its objective, Mali Lithium will have to mobilize a trifle of 194 million USD, recoverable in 2 years. This sum will allow the company to finish construction of the Plant.

However, the financial benefits of the project are greater especially with estimated revenues of 524 million USD. And this part concerns the first two years of operation of the mine. Regarding the life of the mine, the global revenues are expected to reach 6.67 billion USD with 158 million USD during the first 5 years.

“We are aware of the current lithium market conditions, and given the quality of the project, we will be patient to ensure that shareholder returns are maximized,” said Company Executive Chairman Alistair Cowden, during an interview with the national daily "L'Essor"

Note that a recent update from Mali Lithium estimated at 108.5 million tonnes grading 1.45% Li2O, the mineral resources of the mining company of Goulamina, and at 52 million tonnes the proven and probable reserves.

It should be noted that Mali Lithium is now called "FireFinch", and will work to complete the financing of the project which will allow the start of construction works of a mining complex focused on the judgment of lithium in the country