Name of the Project
Goulamina lithium project.

Location
Southern Mali, about 50 km west of Bougouni.

Project Owner/s
Firefinch subsidiary Leo Lithium, and Chinese partner Jiangxi Ganfeng Lithium.

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 506 000 t/y, increasing to a peak of 880 000 t/y in Stage 2. The DFS envisages a standard openpit mining operation.

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 project is expected to have a minimum mine life of 21 years, producing 15.6-million tonnes of spodumene concentrate over that period.

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.

A formal investment decision on Goulamina was taken in March in 2022.

Planned Start/End Date
Firefinch expects to complete construction in early 2024 and commissioning in about mid-2024, with full production expected in 2025.

Latest Developments
Leo Lithium has finalised a shipping solution for product from its Goulamina lithium project.

The company has signed an agreement with SEA-Invest for port services, including product unloading, storage and shiploading at the Abidjan port.

Under the agreement, Leo has secured warehouses with a footprint of 9 000 m²  on the wharf of the Port of Abidjan, equating to about 60 000 t of product storage. The agreement stipulates a minimum product throughput of 250 000 t/y; however, there is no upper limit on quantities that can be exported.

The agreement also includes handling unit rates and loading rates, which are in line with cost forecasting in the DFS update, Leo Lithium has said.

Key Contracts, Suppliers and Consultants
Lycopodium (updated DFS and engineering procurement and associated project management services contract).

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