Ganfeng Lithium expands its industrial chain layout and acquires the remaining 40% stake in Mali Lithium

Ganfeng Lithium announced on May 7 that its wholly-owned subsidiary Ganfeng International will acquire the remaining 40% stake in Mali Lithium, a subsidiary of LeoLithium, for US$342.7 million. Previously, Ganfeng Lithium had increased its capital in Mali Lithium twice, in September last year and January this year. After the completion of this acquisition, Ganfeng Lithium will obtain the operating control of Mali Lithium and its spodumene Goulamina project, and Mali Lithium will be included in the scope of Ganfeng Lithium's consolidated financial statements. The total amount of ore resources explored in the Goulamina spodumene mine project is 211 million tons, with an average lithium oxide grade of 1.37%, equivalent to approximately 7.14 million tons of lithium carbonate equivalent. The project currently plans a first-phase production capacity of 506,000 tons of lithium concentrate, and the second-phase production capacity can be expanded to 1 million tons of lithium concentrate. Through its layout in lithium iron phosphate and lithium mine projects, Ganfeng Lithium is committed to building a closed-loop industrial chain and strengthening the competitive advantage of upstream and downstream integration.