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China plans to extract up to 1 million tons of lithium from a small African country, enough to make millions of batteries for electric vehicles.
China's largest lithium producer, Ganfeng Lithium, has launched the first phase of the Goulamina lithium mining project in Mali. Located in the Bougouni region in the south of the country, the project was officially inaugurated in mid-December, according to Chinese media sources.
With an initial production target of 506 thousand tons per year, the project plans to double its capacity to 1 million tons in the second phase.
An electric car actually requires only a small amount of lithium to operate. A typical 300 kg battery with a capacity of 50 kWh, found in an average model, contains approximately 8 kg of this lightweight metal.
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This mine is considered one of the largest unexplored reserves of hard rock lithium in the world, according to Leo Lithium, the Australian company that initially owned the project.
Overcoming challenges in the market and security
The project’s progress comes amid significant challenges. Mali faces serious security concerns due to internal and regional conflicts, as well as a stringent new mining code that was recently implemented.
Despite this, Ganfeng's bet on the site reflects its strategy to strengthen the supply chain amid growing global demand for electric vehicle (EV) batteries.
In the international market, the sector is also facing a drop in lithium prices due to an oversupply.
To address the situation, Ganfeng signed a US$342,7 million agreement in May, increasing its stake in the Goulamina project and consolidating its strategic position in the market.
Global expansion and China's dominant position
China leads the global electric vehicle market, accounting for about 60% of global deliveries of battery-powered cars.
Furthermore, the country is the largest producer of batteries for EVs, accounting for 77% of global production, with exports exceeding US$139 billion in 2023.
Ganfeng Lithium, based in Xinyu, Jiangxi province, had previously acquired a 40% stake in Mali Lithium, the Australian company responsible for the project, with the possibility of buying it outright.
Now, the Malian government also plans to secure 35% of the project, with 10% acquired for free and 25% purchased. Thus, Ganfeng will hold 65%, while Mali will keep the rest.
Technical details and economic outlook
The project is located approximately 150 kilometers south of Bamako, the capital of Mali. The mine is expected to operate for more than 23 years, producing around 15,6 million tons of spodumene concentrate during that period.
The new license covers an area of 100 km², equivalent to one-tenth the size of Hong Kong.
Experts point out that the expansion of the project is crucial to increasing Ganfeng's self-sufficiency in input materials, which is expected to increase from 40% to 70%.
This can help reverse reduced profit margins and strengthen the supply chain, ensuring greater financial stability for the company in the future.
The Future of Sustainability in Lithium
Although the project represents a significant advance, studies warn of a possible shortage of lithium in the near future.
A report from Nanjing University in China predicts that current supply could run out by 2029, pressured by high demand for EVs and renewable energy technologies.
Traditional extraction methods, such as hard rock and brine mining, are energy-intensive, cause greenhouse gas emissions and have severe environmental impacts. As an alternative, researchers are developing technologies to exploit less conventional sources, such as salt lakes, seawater and sedimentary deposits.
Promising options include low-quality brines, common in salt lakes and geothermal fluids. However, extraction from these sources is challenging due to the high proportions of magnesium to lithium, as well as the low content of mineral.
The race for sustainable solutions is vital not only to meet growing demand, but also to mitigate the environmental impacts of lithium exploration.
Ganfeng’s advance in Mali illustrates how large companies are positioning themselves to balance the economic, technical and environmental challenges of the sector.
The biggest problem is that these businesses do not have an impact on the economic and social well-being of the Malian population.
Really?? I thought it was a problem with the mean West that mistreats the underprivileged. The Chinese are the ones who are fair and don't exploit anyone.
Distributing this wealth is a task for the people of Mali and their government, China does not govern Mali.
9 people practiced slave labor in Bahia. BYD construction was closed due to slavery
If you were serious, you would try to find out first, then come here to comment on this case, which in fact, should not be blamed on the Chinese.
Those hired, irregularly, are the responsibility of a third-party company, hired by BYD for the expansion of the aforementioned Chinese automaker, in the state of Bahia.
This is a problem for the people of Mali, the Chinese proposed better negotiating bases than the Australians, it is up to the government to make this wealth generate social development.
If they spend wrongly or let local oligarchies keep everything, it's their fault.
Calling Mali, which ranks 26th on the list of the world’s largest countries in terms of land area, a “small country” is, to say the least, a demonstration of naivety. This classification, based on concrete data, reflects the vast expanse of territory that Mali has, which positions it as one of the largest countries on the African continent and, consequently, in the world. Reducing this reality to a simplistic expression, such as “small”, reveals not only a lack of knowledge about basic geography, but also a distorted or superficial view of the global context. This may be an oversight, but if it is not, we are faced with a clear example of ignorance that underestimates the importance and dimension of Mali in the international panorama.