Lithium: with Australians, in 2024 Mali and Ghana will begin exploitation, Ivory Coast follows suit
July 17, 2023
Kiki Kienge
By Kiki Kienge
MALI LITHIUM
With a capacity now of 200 million tonnes, Mali is preparing to launch the first lithium exploitation in West Africa by next year.
It will be in the future Goulamina lithium mine, according to a publication of June 20, 2023, the Malian mine would host at least 211 million tonnes of mineral resources grading including 1.37% lithium, an increase of 48.2% compared to to the January 2023 estimate.
It is the mining company Leo Lithium which is the pioneer of this Malian lithium adventure, with its drilling of just over 40,000 meters carried out since the beginning of 2023 at a cost of around $5 million. US, the results obtained will soon be integrated into the estimate of mineral reserves expected in August 2023.
Leo Lithium is a joint venture between the Australians of Firefinch (FFX) through its subsidiary Timbuktu Resources and the Chinese of Ganfeng Lithium with 50%, Leo Lithium is the company which hosts the assets as part of the Goulamina Lithium Project in Mali , Ganfeng Lithium is China's largest lithium chemicals producer by capacity, with a 10% stake from the Malian state.
The lifespan of the lithium mine, Goulamina in Mali, is currently estimated at 23 years, but the duration as well as the annual production capacity of the project could be further extended:
“An increase of 68.6 million tonnes at Goulamina from a very modest drilling campaign is a fantastic result […]. This significant improvement also supports the possible extension of the lifespan of the Goulamina project by 23 years ,” commented Simon Hay, CEO of Leo Lithium.
The first production of spodumene concentrate is expected in the second quarter of 2024 in Goulamina, Leo Lithium has nevertheless decided to start shipping unprocessed lithium from the second half of 2023, with the aim of generating revenue before the entry into service of the mine.
Ganfeng has pledged up to US$194 million (A$263 million) for the project and committed to taking 100% of the spodumene concentrate produced from Goulamina, according to FFX.
GHANA LITHIUM
Following in Mali's footsteps, Ghana will launch its first Ewoyaa lithium mine into production in 2024, according to Lennard Kolff, interim CEO of the Australian mining company, Atlantic Lithium:
“We have an opportunity here to make Ghana a front-runner in the global race to decarbonize by building what could be West Africa’s first hard-rock lithium project. »
The Australians of Atlantic Lithium, its in commercial partnership with the Americans of Piedmont Lithium, the Americans hold an offtake agreement with Atlantic Lithium to purchase 50% of the spodumene concentrate produced by the Ewoyaa lithium project on a term basis. life of the mine.
Revenues from the future Ewoyaa mine are estimated at US$4.84 billion over a mine life of 12.5 years, for an initial investment of US$125 million.
IVORY COAST LITHIUM/COBALT
In Ivory Coast, it is in the Atex project for the exploitation of lithium and Ivorian coltan located 100 km from Korhogo, the Atex project is a reverse circulation drilling program led by the company.
The British mining junior, Firering Strategic Minerals, would hold 77% in the Atex lithium-Tantalum project; it had recently purchased 26% of the project's shares in return for an investment of 397,000 pounds sterling (around $482,000).
“We are delighted to have increased our stake in our flagship Atex Lithium Tantalum project which we believe has the potential to become a significant lithium resource in West Africa,” Yuval Cohen, Managing Director of Firering Strategic Minerals.
Firering Strategic Minerals is developing a portfolio of lithium, coltan-tantalum-niobium assets in Ivory Coast, West Africa, primarily at the flagship Atex project.