On December 5th, Ganfeng Lithium announced that the company's board of directors has approved a proposal to sign a "Equity Transfer Agreement" between its wholly-owned subsidiaries Ganfeng International, LMSA, and Mali. The company will transfer 35% of LMSA's equity to the Malian government, and according to relevant provisions of the Malian National Mining Law, the Malian government will receive 10% of LMSA's shares free of charge; Moreover, the Malian government has acquired a 25% stake in LMSA from the company for a transaction price of 20 billion CFA francs (approximately 32 million US dollars). At the same time, the company, LMSA, and affiliated companies will receive investment preferential policies granted by the Malian government, and the Malian government will actively support the development and construction of the Goulamana spodumene phase II project.
Edited by Cassie Li, lixiangying@mysteel.com
