Ganfeng Lithium Expands African Investments with Focus on Potash and Lithium Projects
Ganfeng Lithium, one of China's largest lithium producers, is set to deepen its investments in Africa, particularly in the mining sector, as part of its global expansion strategy, according to a recent interview with company executives by China Daily. The company is advancing key projects such as the Mboukoumassi potassic salt ore project in Africa and the Goulamina spodumene mine in Mali.
The Mboukoumassi project, a major potash operation, contains resources like sylvite and bromine, with ongoing exploration for lithium reserves. Ganfeng Lithium’s Goulamina project is anticipated to produce 506,000 metric tons of lithium concentrate annually in Phase 1, with potential expansion to 1 million tons in Phase 2. Production is expected to commence later this year.
Li Liangbin, Chairman of Ganfeng Lithium, emphasized the company’s commitment to bringing advanced technologies to the region and supporting local communities through training and development initiatives as the project progresses.
As demand for battery metals such as nickel, lithium, and cobalt continues to surge, particularly in China’s electric vehicle and battery industries, Chinese mining companies are bolstering their overseas investments. According to a report by the Chinese Academy of Social Sciences, Chinese enterprises have invested $8.85 billion in lithium mines across countries like Australia, Canada, Argentina, and Chile between 2002 and 2022. Africa, with its rich reserves, is becoming an increasingly important region for securing these critical minerals.
Africa is projected to contribute 11 percent of global lithium supply in 2024, with forecasts suggesting that this figure will rise to over 14 percent by 2028. The Republic of the Congo, holding Africa’s largest lithium reserves, has identified 3 million tons of the metal, positioning Africa as a key player in the global lithium supply chain.
