HomeBattery metalsMali Lithium jumps final regulatory hurdle – investment decision in H2,2020

Mali Lithium jumps final regulatory hurdle – investment decision in H2,2020

ASX-listed Mali Lithium has been granted an operating permit by the Malian government to mine “world-class” 100% owned Goulamina lithium project.

Mali – This step completes the final regulatory hurdle for the project Mali Lithium states.

The permit is granted under the 2012 Malian Mining Code, covers the company’s entire Torokoro permit for the exploitation of lithium and has been granted for a period of 30 years, renewable in intervals of 10 years until depletion of the reserves within the permit area.

Goulamina is the largest uncommitted hard rock lithium mineral reserve in the world, with 31.2 Mt at 1.56% lithium oxide (Li2O) of probable reserves.

The project is on track for the completion of the definitive feasibility study, followed by a final investment decision in the second half of next year.

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The pre-feasibility study completed last year outlines a large high-grade reserve with a minimum 16-year mine life for the project, producing 362 000 tpa 6% Li2O in spodumene concentrate at attractive costs.

Mali Lithium MD Chris Evans says the award of the mining permit is the project’s most significant milestone to date, and he paid tribute to the Malian government for its support of the project.

“Mali is an established mining jurisdiction that already has a number of mature gold mines operated by major global miners, and we have worked closely with the government to progress Goulamina through Mali’s permitting process.”

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“Mali is Africa’s third biggest gold producer and it is keen to facilitate the diversification of its minerals sector.”

The completion of the approvals process for Goulamina now allows the company to progress its discussions with potential offtake customers and investors.