• Mali to acquire 25% stake in Goulamina lithium mine under 2023 mining code
• Total 35% share includes 10% free and 25% paid participation from Ganfeng Lithium
• $34.3M cost to be reimbursed through 20% of annual dividends over time
Agence Ecofin reports that, under Mali’s 2023 mining code, the government has the right to acquire a 25% stake in mining projects, in addition to a 10% free participation. Following this rule, the state now owns 35% of the country’s first lithium mine—Goulamina.
In December 2024, China’s Ganfeng Lithium agreed to transfer 35% of its stake in the Goulamina project to the Malian government. This includes a 10% free stake and a 25% stake to be purchased for CFA20 billion, or approximately $34.3 million, according to Ganfeng’s annual report published in late April 2025.
The agreement specifies that the Malian government will not pay the full amount upfront. Instead, the sum will be gradually reimbursed through 20% of the government’s annual dividends from the mine. Ganfeng has applied a discount rate of 19%, bringing the present value of the deal to an estimated $23.2 million.
Details have not been provided on how the FCFA20 billion valuation was reached. However, Mali’s 2023 mining code—specifically Article 80—states that the cost of state acquisitions should reflect the percentage acquired multiplied by the total costs of exploration and feasibility studies, with interest calculated at the BCEAO rate plus 2% for the investment period.
The 25% acquisition marks a strategic step by Mali to maximize benefits from its mining sector. The new mining code raised the state's maximum share in mining ventures from 20% (10% free and 10% paid) to 30%, and added a 5% requirement for local investor participation. The government anticipates that this reform could generate up to CFA500 billion in additional annual revenue. Discussions are still ongoing regarding how the 5% local stake will be allocated and managed.
The Goulamina mine, commissioned in December 2024, is designed to produce 500,000 tonnes of lithium spodumene per year. The output is expected to be exported to China.
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Egypt signs deals to import up to 290 LNG cargoes over 30 months, starting in July Trafigura,...
(AfDB)-Egypt's first integrated solar and battery storage plant will deliver dispatchable clean ener...
Lion Group to explore and exploit gold, copper, and manganese in Algeria Malaysian firm plans...
This launch is a significant milestone that highlights Rwanda's ongoing digital transformation. With...
Key Highlights • Somalia inaugurates its first stock exchange, the National Securities Exchange of Somalia (NSES), in Mogadishu. • NSES will start...
Key Highlights: • Olam Agri to onboard 5,000 small-scale farmers in Kwara State under a new soybean supply initiative. • Partnership with IDH and...
Key Highlights: • Master Plastics receives undisclosed funding from Nedbank and Investec to expand sustainable packaging production. • Metier Capital...
Key Highlights: • Kenya allocates $27 million to renovate 19 tea factories as part of sector reforms.• Producers can now sell tea directly on...
Tucked away in northeastern Chad, deep in the heart of the Sahara Desert, the Ennedi Massif stands as an extraordinary natural and cultural marvel. This...
Kakum National Park is a protected area located in Ghana’s Central Region, near the city of Cape Coast. Established as a forest reserve in 1931 and...