China’s Ganfeng Lithium Invests $130M in Mali to Boost EV Battery Supply
- David Augustine
- Feb 20
- 3 min read
In a move to enhance the electric vehicle (EV) battery supply chain, China's Ganfeng Lithium has committed $130 million to the Goulamina project in Mali. This investment marks Mali's emerging significance in the global battery element market, which is essential for EV power source production.
The Role of Ganfeng Lithium in the EV Battery Industry
Ganfeng Industry is a major player in the lithium production and processing sector.
Established in 2000, Ganfeng Lithium has evolved into a global leader in battery component production. With operations spanning China, Australia, Argentina, and Mexico, the company plays a pivotal role in supplying raw materials for EV batteries.
Lithium's unique electrochemical properties make it indispensable for high-energy-density batteries, powering the transition to sustainable transportation. Ganfeng's strategic investments, including the recent acquisition of a 50% stake in the Goulamina project, highlight its commitment to securing power cell element resources worldwide.
Why Mali? The Strategic Importance of the Goulamina Lithium Mine
The Goulamina project, located approximately 150 kilometres south of Bamako, positions Mali as a key player in the global cell element supply chain. Mali's rich spodumene reserves, a primary lithium source, offer significant potential for large-scale extraction. Historically known for gold mining, Mali is diversifying its mineral portfolio to meet the rising demand for EV components.
The country's untapped reserves are poised to support the burgeoning EV market, especially as global manufacturers seek reliable raw material sources.
Mali’s selection for this significant investment is based on several factors:
Abundant reserves: The Goulamina site contains some of the highest-grade spodumene deposits in Africa.
Strategic location: Positioned within a growing EV market, it offers a direct supply to global cell manufacturers.
Government support: Mali's administration has actively promoted foreign investment in critical minerals.
Experts estimate that Mali could contribute up to 15% of Africa’s lithium exports by 2027. This investment ensures its place in the evolving EV supply chain.
The $130M Investment and Its Impact
Ganfeng company's $130 million investment is designated for several key developments:
Increasing extraction capacity at the Goulamina Mine.
Constructing new processing facilities for refining cell elements into battery-grade material.
Improving local infrastructure, including roads and energy supply networks.
Creating thousands of jobs supporting the Malian workforce.
The initial phase targets an annual output of more than 500,000 tonnes of spodumene concentrate, with plans to double this capacity. As production scales, this number is expected to rise.
From an economic perspective, Mali will benefit from:
Higher foreign direct investment.
Increased export revenue
Enhanced industrial development linked to the EV sector.
China has been expanding its global lithium dominance, and this investment further secures its control over key raw materials needed for battery production.
Future Expansion and Global EV Battery Supply Chain
Ganfeng Lithium has ambitious plans for the Goulamina Mine. By 2025, the site is projected to reach an output of 900,000 tonnes annually. This expansion aligns with the global push for electrification and renewable energy storage.
China remains the largest battery element refiner, controlling over 60% of the global supply. With Africa’s EV sector growing, the region is set to play a more significant role in the EV battery supply chain.
The Goulamina Mine will export battery materials to substantial markets, including Europe and North America, reinforcing China’s dominance in the sector.
Beyond mining, Ganfeng Lithium is also investing in power cell technology and recycling facilities to create a more sustainable supply network.
Conclusion
The Goulamina Mine will enhance Africa’s role in lithium production. With increasing demand for battery technology, Mali is poised to become a strategic supplier in the industry. As China expands its lithium interests, this investment highlights the growing economic influence of Africa’s critical minerals sector.
The future of EV battery production is rapidly evolving, and Mali is also a central player in this transformation.
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