Ganfeng takes full control of Mali Lithium

Mali Lithium

Deal terms and strategic rationale

Ganfeng takes full control of Mali Lithium after buying the remaining 40% for $342.7mn. The seller was Australia’s Leo Lithium. The move consolidates ownership of the Goulamina lithium mine. Therefore, governance and execution will now follow a single operator. Ganfeng takes full control of Mali Lithium to secure upstream supply.

Ganfeng previously paid $138mn for 55% in September 2023. It added 5% for $65mn in January 2024. As a result, the company now holds 100% equity. This sequence reflects disciplined pacing in volatile lithium markets.

Project status and global supply outlook

The Goulamina resource totals 7.14mn t LCE at 1.37% Li₂O grade. Phase one construction began in 2022 with 506,000 t/y capacity. Production started in December 2024 and continues to ramp. The second phase targets 1mn t/y of spodumene. However, the timeline for phase two remains undisclosed.

Ganfeng completed its first Goulamina concentrate shipment on 24 June. The cargo is en route to China, arriving in early August. Meanwhile, group chemical output reached 130,253 t LCE in 2024. That figure rose 25% year over year.

The portfolio also includes Cauchari-Olaroz in Argentina. Nameplate capacity stands at 40,000 t/y of lithium carbonate. Output jumped to 25,400 t in 2024 from 6,000 t in 2023. It is expected to reach 30,000–35,000 t in 2025.

Ganfeng takes full control of Mali Lithium to align mine, shipping, and conversion. Therefore, integrated volumes should improve cost visibility and contract flexibility. However, execution will still hinge on phase-two clarity and logistics.

The Metalnomist Commentary

Full ownership removes JV complexity and accelerates decision-making at Goulamina. The heavy tilt toward spodumene supply strengthens Ganfeng’s conversion optionality in China. Watch phase-two scheduling, shipping cadence, and carbonate/hydroxide price spreads through 2026.

Ganfeng Lithium Begins Production of Spodumene Concentrate at Goulamina Mine in Mali

Ganfeng Lithium

Ganfeng Lithium, one of the world's leading producers of lithium, has officially started producing spodumene concentrate at its Goulamina lithium mine in Mali. This marks a significant step in the development of the mine, which is being constructed in two phases. The first phase, which began in 2022, has a production capacity of 506,000 tonnes per year (t/yr) of spodumene concentrate, with commercial production starting on December 15, 2024. The second phase, when completed, will raise the total capacity to 1 million t/yr.

Goulamina Lithium Mine: A Major Step for Ganfeng's Global Lithium Supply

The Goulamina project is one of Ganfeng's key international investments, located in Mali, a country that is becoming increasingly significant in the global lithium supply chain. The mine has a total resource base of 7.14 million tonnes (mn t) of lithium carbonate equivalent (LCE), with an average grade of 1.37% lithium oxide (Li2O), a quality that positions it as a key source of lithium in the coming years.

As part of its development, Ganfeng has announced that its wholly owned subsidiary Lithium du Mali SA (LMSA) holds a 100% stake in the project. However, in a move to strengthen its relationship with the host nation, Ganfeng will transfer a 35% stake in LMSA to the Mali government. This will see the government receive 10% of the stake for free, while the remaining 25% will be acquired for approximately $32 million.

Expanding Ganfeng’s Global Lithium Portfolio

Ganfeng Lithium is investing heavily in lithium extraction from both spodumene ore and brine sources across the globe. In addition to the Goulamina mine, Ganfeng has major operations in Australia, Argentina, Mexico, Ireland, and China. The company is also ramping up its Cauchari-Olaroz project in Argentina, which boasts an annual 40,000 t/yr capacity for lithium carbonate production.

The move to secure assets in Africa is part of a broader trend among Chinese lithium producers, who are increasingly looking to diversify their supply chains. Companies such as Huayou, Sinomine, Chengxin, and Yahua have been sending shipments from their Zimbabwe-based mines to lithium refineries in China, highlighting the growing importance of African countries as key players in the global lithium market.

Strategic Implications for Global Lithium Markets

Ganfeng’s investment in Mali and its expanding operations across Africa signal an ongoing shift in the global lithium mining landscape, with Chinese firms increasingly focusing on securing access to critical resources outside traditional markets like Australia and South America. As demand for lithium continues to surge, driven by the rapid growth of electric vehicles (EVs) and renewable energy storage solutions, these strategic moves will play a pivotal role in shaping the future of the lithium supply chain.

Ganfeng Lithium to Launch Production at Mali's Goulamina Lithium Mine

Ganfeng Lithium

China's leading lithium producer, Ganfeng Lithium, is set to initiate production at the Goulamina lithium mine in Mali, marking a significant milestone in the company's global expansion. Ganfeng has completed the first phase of the ore crushing production line, aiming to produce its first batch of lithium concentrate, also known as spodumene, by the end of this year.

Expanding Lithium Output in Two Phases

The Goulamina project will unfold in two phases, with the initial phase beginning construction in 2022. This first phase is projected to yield 506,000 tonnes of spodumene concentrate annually. The second phase, though lacking specific construction and launch timelines, is expected to bring the mine’s total production capacity to 1 million tonnes per year.

Ganfeng, which owns 60% of the project in partnership with Australia’s Leo Lithium, has positioned itself as a dominant player in the global lithium market. The company revealed plans in May to acquire Leo Lithium's remaining 40% stake, securing full ownership of the Goulamina project. Once the deal is finalized, Ganfeng will control 100% of the mine, further consolidating its foothold in the lithium market.

Diversification in Africa and Beyond

This project in Mali forms part of a broader trend in China’s strategy to diversify its lithium supply chain. With lithium demand surging due to electric vehicle production, Chinese firms like Ganfeng have accelerated exploration and production efforts across Africa. Companies such as Huayou and Zijin Mining have already begun sending lithium shipments from Zimbabwean mines to China for refining. Ganfeng itself is not limited to Mali, having significant investments in Australia, Argentina, Mexico, Ireland, and China.

As China looks to diversify away from traditional suppliers in Australia and South America, Africa is becoming an increasingly vital resource base for lithium production.

Ganfeng Launches Mariana Lithium Project, Expands Global Lithium Supply Chain

Ganfeng Lithium Project

China’s Ganfeng Accelerates Lithium Production Across Argentina, Mali, and China

Ganfeng Lithium has officially begun production at its Mariana lithium chloride plant in Argentina's Salta province, strengthening its global lithium supply network. The company launched operations on February 12, marking a significant milestone in its South American investment strategy.

The Mariana project’s first phase features an annual capacity of 20,000 tonnes of lithium chloride. Ganfeng plans to rapidly scale output upon phase completion. Its subsidiary, Litio Minera Argentina, owns 100% of the project, which holds a total lithium resource of 8.12 million tonnes of lithium carbonate equivalent (LCE).

Ganfeng Expands Global Lithium Footprint with Multi-Continent Strategy

Beyond Mariana, Ganfeng is aggressively scaling its global lithium production. In Argentina, the Cauchari-Olaroz project ramped up output from 6,000 tonnes in 2023 to 25,400 tonnes in 2024. The site targets 30,000–35,000 tonnes of lithium carbonate production in 2025. In Mali, the Goulamina spodumene mine began first-phase operations in December 2024.

In China, Ganfeng has established refining capacities totaling 50,000 t/yr for lithium carbonate and 100,000 t/yr for lithium hydroxide. The company opened a 45,000 t/yr lithium salts plant in Sichuan and launched initial production at a 25,000 t/yr lithium carbonate facility in Hunan’s Chenzhou city through its joint venture Hunan Anneng Ganfeng.

Chenzhou Mega Project Sets New Benchmark for Lithium Refining in China

Anneng Ganfeng plans to invest ¥7 billion (US$960 million) into a 150,000 t/yr lithium carbonate complex in Chenzhou. This project will roll out in three phases, with the initial 50,000 t/yr phase already under construction. These efforts solidify China’s position in downstream lithium conversion and reflect Ganfeng’s ambition to control the full value chain from resource to battery-grade materials.

Ganfeng’s total global resource investment now exceeds 79.59 million tonnes LCE. With assets in Argentina, Mali, China, Australia, Mexico, and Ireland, the firm remains a dominant force in both lithium brine and spodumene extraction.