Mali inaugurates its second lithium mine and aims to become Africa’s top producer of the metal
On Monday in Bogoni, Mali’s transitional president, General Assimi Goita, presided over the official inauguration ceremony of the country’s second lithium mine, operated by the company Bogoni Lithium Mines, and which falls within the framework of the national strategy for the development of mineral resources and the strengthening of economic sovereignty, according to the Malian presidency.
The Malian Presidency explained in a post on its Facebook page that the initial investment in this project amounted to $65 million, expecting that the first phases would enable the production of about 120,000 tons annually, with the total production volume reaching 590,000 tons of lithium by 2026, thus placing Mali in first place in Africa.
Minister of Mines Amadou Keita said the new lithium mine will contribute to financing the public treasury through taxes, revenues, profits and contributions to 4 mining funds, including the Local Development Fund and a fund dedicated to energy infrastructure.
Keita explained that the project has already injected more than 24 billion CFA francs into the national economy, through the purchase of local goods and services, and about 317 million CFA francs into community development projects.
The finance minister praised the partnership between his country, China and the United Kingdom in this project, which in its first phase created 500 local job opportunities, and will provide an additional 800 jobs during the second phase.
For his part, the Chairman of the Board of Directors of Kodal Mining UK and General Manager of Hainan Mining, Teng David Lee, said that there is a common vision that unites Mali, China and the United Kingdom in this structural project, adding: “We share one ambition, which is to make Lithium Bogoni an engine of growth and a model of a balanced partnership between foreign investors and the sovereign country”.
Mali is banking on the mining sector to revive its economy, and it has enacted a new mining law, reviewed a number of mining agreements, and recently cancelled dozens of licenses for violating the law, according to official authorities.
