Mali suspends lithium shipping operations
- September 5, 2023
- Posted by: Quatro Strategies
- Categories: Africa, Mining & Metals, Rare Earths & Commodities
Australian mining company Leo Lithium Ltd. has announced that Mali has suspended operations involving unrefined lithium ore from the Goulamina project, a joint venture with China’s Ganfeng Lithium Group Co. Crushing of direct shipping ore (DSO), an unprocessed form of lithium ore, has been halted immediately, pending discussions with Mali’s Ministry of Mines.
This suspension will not delay any aspect of the Goulamina project, which remains on schedule for spodumene concentrate production in the second quarter of 2024. Mining activities continue according to the pre-existing plan, and mined ore is being stockpiled.
The decision to halt DSO operations comes after correspondence from the Malian mines ministry on July 17 regarding DSO, the status of the government’s 10% stake in the project, and overall project progress. Mali has also established a commission to examine these matters.
Leo Lithium had originally planned to export up to 139,000 tons of unrefined lithium ore before beginning to ship concentrate next year.
The Goulamina project aims to become Mali’s first producing lithium project and is one of the largest resources of lithium-bearing spodumene under development. This development is of significant interest as global demand for lithium, a key component in batteries, continues to grow.
The suspension of DSO operations appears to be related to issues concerning the government’s stake and the processing of lithium resources within Mali. There is a growing trend among resource-rich nations to encourage domestic processing of minerals to add more value to their economies rather than exporting unprocessed materials. Mali, known for its large gold mining industry, is seemingly looking to follow this trend with its lithium resources.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Big oil begins Gulf exit strategy as infrastructure damage mounts
The armed conflict engulfing the Persian Gulf is fundamentally reshaping the strategic calculus of the world’s largest oil and gas companies, compelling them to reconsider their deep-rooted investment commitments to the Middle East and begin redirecting capital toward frontier and previously overlooked producing regions.
While the Gulf has long served as the gravitational center of the global hydrocarbons industry, offering unmatched resource scale, relatively predictable fiscal frameworks, and a reputation for operational continuity that persisted even through the Iraq and Yemen conflicts, the current war between the United States, Israel, and Iran has shattered that stability in ways that will likely reverberate through corporate boardrooms and investment committees for years to come.
Boeing invests $240 million in Quebec’s aerospace cluster for drones and green aircraft
Boeing has committed $240 million to support an aerospace cluster in the Montreal area, as part of a broader initiative by Quebec to establish itself as a global hub for the development of drones and environmentally friendly aircraft. This contribution from Boeing constitutes a significant portion of the $415 million…
China drains silver stocks as global squeeze deepens
Chinese silver is quietly becoming the missing piece in a very stressed global market. Over the past few months, inventories in warehouses connected to the Shanghai Futures Exchange have fallen to their lowest levels since 2015, and volumes on the Shanghai Gold Exchange have shrunk to their weakest in more than nine years.
That drawdown is directly linked to an enormous outflow: in October alone, China exported more than 660 tonnes of silver, the biggest monthly shipment on record, much of it heading to London to relieve an acute supply squeeze there that had helped push prices to all-time highs.