Ganfeng Lithium deepens its layout in the African lithium resource market

Ganfeng Lithium recently announced that its board of directors has approved a proposal to agree that its wholly-owned subsidiary Ganfeng International and an unnamed lithium subsidiary (LMSA) will sign an equity transfer agreement with the Republic of Mali. The agreement means that Ganfeng Lithium's layout in the African lithium resource market has been further deepened. According to the agreement, Ganfeng Lithium will transfer 35% of LMSA's equity to the Malian government, of which 10% is free and the remaining 25% is sold for approximately US$32 million. This transaction not only brought considerable cash income to Ganfeng Lithium, but also demonstrated its strength and influence in the field of lithium resources.