Lithium developer Leo Lithium has cemented its equity investment agreement with lithium producer Ganfeng Investment. Under the equity investment agreement Ganfeng will sole fund $137.2-million of capital costs for the Goulamina lithium project, in Mali, via direct cash injection into the Goulamina holding company Mali Lithium BV (MLBV) in exchange for an additional 5% interest in MLBV.
PERTH – Lithium developer Leo Lithium has cemented its equity investment agreement with lithium producer Ganfeng Investment.
“We are extremely pleased to have executed the equity investment agreement with Ganfeng, which cements our solid relationship with China’s largest lithium producer, and the direct project investment is set to facilitate regulatory approvals in China,” said Leo MD“Our cooperation agreement is meant to deliver a range of key strategic benefits, including a commitment to expand the capacity at Goulamina Stage 2, as well as a framework for further cooperation on a downstream conversion facility and...
Leo has previously told shareholders that the cooperation agreement with Ganfeng included several long-term strategic benefits, including raising the planned Stage 2 capacity to 500 000 t/y to lift the overall capacity at Goulamina to one-million tonnes a year, jointly studying the concept of co-investing in a downstream conversion facility in Europe, amending an offtake agreement for the Stage 2 project for the potential downstream conversion facility to produce lithium hydroxide, and...
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