Mali’s transitional President Assimi Goïta on Monday inaugurated the country’s second lithium in Bougouni, to boost the country’s mineral wealth for economic independence.
The mine, operated by Les Mines de Lithium de Bougouni SA (LMLB SA), is a partnership between the Malian government, British firm Kodal Mining UK Ltd, and Chinese group Hainan Mining Co Ltd, part of the Fosun International conglomerate.
The first phase of the project required an investment of $65 million (approximately 36 billion FCFA) and is expected to produce 120,000 tonnes of spodumene concentrate annually, a key component for lithium-ion batteries.
Under Mali’s 2023 Mining Code, the state holds a 35% stake, with the remainder shared between Kodal and Hainan Mining.
The Bougouni site, located roughly 180 km south of Bamako, complements the Goulamina mine, which started operations in 2024 as part of Mali’s strategic mining corridor.
The project has already generated around 500 local jobs, with 800 more expected during a second phase planned for 2028. Financial gains for Mali are projected at $380 million over the deposit’s lifespan, with 24 billion FCFA already invested locally, including funds dedicated to community programs.
For Mali, the Bougouni lithium mine represents both a strategic economic opportunity and a declaration of sovereignty over its natural resources amid a global scramble for minerals essential to the green energy transition.
