In December 2024, Mali opened its first lithium mine in Goulamina, located in the southern part of the country, marking a major turning point for its economy. The first phase of production is designed to produce 506,000 tons of spodumene concentrate per year, with plans to expand to 1 million tons during the second phase. Recognized as one of the world’s largest lithium deposits, this site has an estimated lifespan of over 23 years.
The project is 65% owned by Ganfeng Lithium, a Chinese industry leader, while the Malian state and local investors hold 30% and 5%, respectively. This ownership structure stems from the new 2023 mining code, which aims to strengthen national participation in strategic projects. The mine is expected to generate around 100 billion CFA francs (approximately $160 million) annually and ensure that Malian companies benefit from at least 51% of subcontracting contracts, representing a potential of 250 billion CFA francs per year. These revenues will also fund local infrastructure in energy, transport, and water, improving living conditions and supporting regional development.
With the start of production at Goulamina, Mali becomes the leading lithium producer in West Africa, playing a key role in the global clean technology value chain. A second project, in Bougouni, carried out in collaboration with Kodal Minerals, will further strengthen this momentum, consolidating Mali’s position in the rapidly expanding global lithium market.
Economic and Social Context of Mali
With a population of over 22 million people, Mali has historically relied on agriculture and natural resources, which are the cornerstones of its GDP and exports. However, the country faces persistent challenges such as poverty, limited industrial diversification, and political instability, which hinder sustainable development.
The southern region, where the Goulamina and Bougouni projects are located, although more developed than other areas, still grapples with inadequate infrastructure, limited access to education, and economic disparities. The lithium mining projects, therefore, present an opportunity to transform this region economically and socially.
Regional Implications
The lithium projects in Mali have the potential to profoundly reshape the region. By generating substantial revenues and creating jobs, these initiatives will stimulate strategic sectors such as transportation, construction, and manufacturing. Investments in key infrastructure, will enhance access to markets and essential services while reducing regional disparities.
On the social front, these projects will provide critical training opportunities and foster the development of local skills, creating both direct and indirect employment. Additionally, investments in education and community infrastructure will play a vital role in reducing inequalities and improving the quality of life for Mali’s population.
Mali’s landlocked position underscores the importance of regional cooperation to overcome logistical challenges and unlock economic opportunities. As Mali redefines its regional alliances, particularly distancing itself from ECOWAS and strengthening ties within the Alliance des États du Sahel (AES), it must adopt a strategic approach to regional collaboration. Transport corridors connecting Mali to the ports of Senegal, Côte d’Ivoire, and Guinea will remain crucial for facilitating the export of lithium and other strategic resources. These routes also offer opportunities to promote deeper integration within the Sahel and beyond. Furthermore, fostering the transfer of knowledge and technology is essential for ensuring balanced and sustainable development, amplifying shared benefits across the region.
The African Continental Free Trade Area (AfCFTA) offers a transformative framework for Mali to integrate into broader African markets. By reducing trade barriers and harmonizing regulatory frameworks, the AfCFTA enables Mali to connect its lithium industry with Africa’s manufacturing and energy value chains, further boosting its trade potential. Fully leveraging this framework will enhance Mali’s economic competitiveness and support sustainable development across the region.
A Lever for Regional Growth and Integration
The lithium industry could become a driver of integration and growth for West Africa and the Sahel, consolidating Mali’s position in the global energy transition. However, to fully realize this potential, transparent governance must be ensured, environmentally responsible initiatives promoted, and regional cooperation strengthened.
Thus, Mali will not be limited to being a mere lithium producer. It has the potential to become a catalyst for a new era of sustainable development and economic integration in Africa.