Ganfeng eyes more lithium ties with Africa

Mining company Ganfeng Lithium will further expand investments in Africa and deepen cooperation in the mining sector, a top executive said during a recent interview with China Daily.

Currently, the company is advancing its Mboukoumassi potassic salt ore project, a major potash project under construction in Africa. The main ore type in the mine is sylvite, accompanied by resources such as bromine. The lithium reserves are still under exploration.

Ganfeng Lithium also planned the Goulamina spodumene mine project in Mali.

The project is currently planned for a Phase 1 capacity of 506,000 metric tons of lithium concentrate and is under construction, with production expected to start this year. Phase 2 capacity can be expanded to 1 million tons of lithium concentrate.

Ganfeng Lithium Chairman Li Liangbin said, "With the orderly progress of the Mboukoumassi project, we hope to introduce more cutting-edge technologies to the region, train more local talent and bring more beneficial changes to the surrounding community."

With China's electric vehicle and battery industries rapidly advancing, demand for battery metals like nickel, lithium and cobalt is on the rise.

To bolster critical mineral supply chains, Chinese mining companies are increasing overseas investments, particularly in lithium nickel, and cobalt. Between 2002 and 2022, Chinese enterprises invested $8.85 billion in overseas lithium mines, primarily in countries like Australia, Canada, Argentina and Chile, said a recent report from the institute of world economics and politics under the Chinese Academy of Social Sciences.

Many Chinese enterprises, including Ganfeng Lithium, Chengxin Lithium and others, are ramping up their presence in African lithium mines to secure future supplies of raw materials for EV batteries.

Africa is projected to contribute nearly 11 percent to global lithium supply this year, with expectations of this figure increasing to over 14 percent by 2028, according to estimates from S&P Global.

The Republic of the Congo, home to Africa's richest lithium reserves, has identified a total reserve of 3 million tons of the metal. Citic Securities highlighted Africa as the primary arena for expanding lithium production capacity globally, in its recent research report.