While South Africa has no lithium-ion battery cell manufacturers, several companies are involved in battery pack assembly. Demand for all types of batteries is also expected to come from the rollout of renewable energy projects.
Ganfeng will take a 50% stake of a special purpose vehicle set up by Goulamina's Firefinch, which will fully own operating company Lithium du Mali. The filing has said that the Mali government has the right to take 10% of the equity free of charge and pay in cash for up to 10% more.
The Goulamina lithium project in Mali is well into a 27-month development programme that will see first concentrate production in H1, 2024.
The high-grade lithium resource at the site is one of the largest in the world, with the mineral resource sitting at 108 Mt at 1.45% Li 2 O and the mineral reserve at 52 Mt at 1.51% Li 2 O. “In respect of lithium, we’re definitely first out of the starting gate in West Africa,” says Hay.
Goulamina lithium project. Southern Mali, about 50 km west of Bougouni. Lithium du Mali, a wholly owned subsidiary of Firefinch. A definitive feasibility study (DFS) has confirmed Goulamina as one of the world’s highest-quality lithium assets that will deliver a long-life, large-scale, low-cost openpit project.
As Hay explains, Leo Lithium is a direct descendant of Birimian Gold. “Birimian became Mali Lithium in 2019 and Mali Lithium in turn changed its name to Firefinch.