Mali: The Country’s first lithium mine to start operating soon
The first lithium mine of Mali is set to commence production this coming August in collaboration with the Chinese company «Ganfeng Lithium». The project, which will span 21 years, involves Leo Lithium holding a 40% stake.
According to the agreement between the Malian government and the mining company, 35% of the revenues will go to the Malian state, translating to over 100 billion CFA francs annually being injected into the state’s coffers.
«The lithium will soon shine for all Malians», announced Minister of Mines Amadou Keita.
The Minister of Economy and Finance added that this initiative would bring at least 100 billion CFA francs annually into Mali’s budget once the mine reaches its full production capacity, generating an annual revenue of around 750 billion CFA francs.
The project is expected to last for 21 years, during which Mali could benefit from approximately 2,500 billion CFA francs, noted Minister Sanou with optimism.
Additionally, the country will gain between 22 and 25 billion CFA francs each year due to local content policies, which will facilitate the development of road and energy infrastructure, boosting local development.
Malian companies involved in the sector are projected to achieve 250 billion CFA francs in revenue, stated Minister Alousséni Sanou.
He emphasized that 51% of subcontractors will be local businesses.
The economic benefits extend beyond these direct revenues. The lithium mining operation will create local jobs, stimulating both regional and national economies.
Direct employment at the mine, along with indirect opportunities in the service and industrial sectors, will help reduce unemployment and improve living standards in surrounding communities.
It’s worth noting that lithium, a critical component in rechargeable batteries for electric vehicles and electronic devices, is in increasing demand worldwide.
Olivier TOE
