Antaike, May.16 (Beijing)-Ganfeng Lithium (GFL) announced on the evening of June 14 that its wholly-owned subsidiary, GFL International Co., Ltd, would buy a 50 percent stake in the Dutch company SPV for US$130 million of its own funds.

According to Ganfeng Lithium’s announcement, the subject matter of this transaction is the 50% equity interest of SPV (which has not yet been named and is ultimately subject to the registered name of the Netherlands Companies Registry). SPV will have an indirect interest in the Goulamina spodumene project in Mali through its 100% interest in Lithium du Mali SA (hereinafter referred to as "LMSA").

Upon completion of the transaction, GFL International will provide LMSA, a wholly-owned subsidiary of SPV of the Netherlands, with up to US $40 million (about 256 million yuan) of financial support to help LMSA develop and build the Goulamina Spodumene Project, according to the announcement.

According to the terms of the transaction, upon completion of this investment, GFL International will obtain 50% of the sole underwriting right of spodumenite concentrate of Goulamina Project Phase I with an annual production capacity of approximately 455kt. If GFL International provides financial support directly or assists LMSA in obtaining debt funds from third party banks or other financial institutions, it will be entitled to the sole underwriting right of the remaining 50% of the production capacity in Phase I.

According to the lithium resource report published by Firefinch, the confirmed exploration amount of lithium oxide in the Goulamina spodumene project is 133kt, plus the indicated and speculated resources, the estimated total amount of lithium oxide reserves is 1.57Mt.

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