ASX-listed Mali Lithium has announced that China Minmetals Corporation subsidiary, the Changsha Research Institute of Mining and Metallurgy, will expand its relationship with Mali Lithium.
Since signing a Letter of Intent with Mali Lithium, CRIMM has fully reviewed and analysed the Pre Feasibility Study for the Goulamina Lithium Project completed by Mali Lithium and has committed to commence testing ore from Goulamina at its laboratory in Changsha.
Minmetals has a long history of expertise in lithium processing and product marketing through its specialist research facility and its subsidiary Hunan Changyuan Lico.
Hunan is a State Owned Enterprise in China which researches and produces predominantly battery materials for distribution into the Chinese market.
The expansion of the relationship with Minmetals comes less than a week after Mali Lithium received its final approval for the Goulamina Project from the Malian government.
The award of a mining permit from the government completes the final regulatory requirement for the Goulamina project.
Chris Evans, MD of Mali Lithium, comments: “China Minmetals is a Chinese government – owned US$470 billion company with considerable research, funding, offtake, engineering and construction capability.
“They have completed extensive due diligence and analysis of the Goulamina Project and it is testament to the quality, scale and potential of the project, and a vote of confidence in our management that they want to further our relationship.
“Minmetals hosted Mali Lithium at their facility in Changsha in May and their presentations to us confirmed that China is thinking long term when considering the future of the electric vehicle and power storage industries.
“Minmetals highlighted to us the importance of long term access to sources of reliable, high quality raw material in jurisdictions amenable to Chinese investment.
“Mali Lithium has a world-class, fully permitted, high-grade project in a politically impartial and stable mining jurisdiction, with an maiden probable ore reserve of 31.2 Mt @ 1.56% Li2O3 which converts to a 16-year mine life.
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“This explains why the biggest mining company in China has taken such a keen interest in our project.
“The testwork on Goulamina ore at Changsha will occur over the coming months and the company looks forward to continuing its work with Minmetals during this time.”