Name of the Project
Goulamina lithium project.

Location
Southern Mali, about 50 km west of Bougouni.

Project Owner/s
Leo Lithium, a subsidiary of Firefinch.

Project Description
An update to the October 2020 Goulamina definitive feasibility study (DFS) in December 2021 has confirmed that the project is among the world’s biggest lithium developments.

Stage 1 spodumene concentrate production is estimated at 503 000 t/y, increasing to a peak of 831 000 t/y in Stage 2.

Spodumene concentrate production over the 21-year life-of-mine is estimated at 15.6-million tonnes.

The DFS envisages a standard openpit mining operation using drill, blast, excavation and truck haulage. Contractors will be employed for mining operations.

The flowsheet will comprise:

• three-stage crushing to a P₈₀ of 6.2 mm, with a fine-ore bin and overflow dead stockpile;
• closed-circuit ball milling and screening to an estimated P80 of 180 µm, based on a closing screen P₁₀₀ of 212 µm;
• two-stage magnetic separation;
• three-stage flotation (roughing, cleaning and recleaning);
• concentrate dewatering, filtration and storage;
• separate flotation and process tailings thickening, with common tailings pumped to a tailings storage facility;
• reagent mixing and distribution;
• separate flotation and process water circuits; and
• air services.

The DFS update proposes the construction of a 2.3-million-tonne-a-year throughput plant, incorporating in the design the infrastructure and equipment for the construction of a Stage 2 expansion to increase plant throughput to four-million tonnes a year. The expansion of the plant will take place after commissioning of Stage 1 and be commissioned about 18 months after commissioning.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $4-billion and an internal rate of return (real) of 97.8%.

Capital Expenditure
Stage 1 will cost about $255-million and Stage 2 $70-million

Planned Start/End Date
A formal investment decision on Goulamina was taken in March in 2022.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Firefinch, tel +61 8 6149 6100 or email info@firefinchltd.com.