Mali’s first lithium mine will start production in August 2024 by the Chinese company, ”Ganfeng Lithium”, for a period of 21 years. Under the terms of the agreement signed between the Malian government and the operating company, 35% of revenues will accrue to the Malian state, i.e. over €100 billion per year. This is the information that emerged from the meeting between the Chinese company and the Malian government.
Lithium will soon shine for all Malians”. At least, that’s what the Minister of Mines, Amadou Keita, has announced. The agreement to operate the 100 km2 Goulamina lithium mine in the Bougouni region has been signed between the government and Ganfeng Lithium. According to the Minister of Economy and Finance, this will enable the State of Mali to add at least 100 billion FCFA per year to the budget when the mine reaches cruising speed and generates annual sales of around 750 billion FCFA. The estimated lifetime of the project is 21 years. During this period, the country will be able to benefit from around 2,500 billion FCFA,” says Minister Sanou.
In addition, he adds that the country will obtain between 22 and 25 billion each year from local content, which will enable the country to build road and energy infrastructures to strengthen local development. Malian companies operating in the sector will have sales of 250 billion euros,” said Minister Alousséni Sanou. In his view, 51% of subcontractors will be local companies.
A historic agreement
This agreement with the Chinese company follows several consultations. For Minister Keita, this process stems from the government’s desire to strike a balance in the partnership between the State of Mali and these companies. He believes that the central element of the partnership is the migration of the mining contract to the 2023 mining code, and the increase in state and national participation to 35%.
According to Amadou Keita, with this agreement, the Morila mine will be retroceded to Société de recherche et d’exploitation des ressources minérales du Mali -SOREM, which will enable the mine to resume production very soon.
Adama Tembely/©️ Malikonews.com
