Mali has officially launched operations at its second lithium mine in Bougouni, southern Mali, reinforcing its ambition to transform mineral wealth into a driver of sustainable growth and industrial sovereignty.
The $65 million project, inaugurated on November 3, 2025, by Transitional President Assimi Goïta, symbolizes the country’s growing determination to secure a strategic place in the global green energy supply chain.
Operated by Les Mines de Lithium de Bougouni SA (LMLB SA), the venture is a joint partnership between the Malian government, the UK’s Kodal Mining Ltd, and China’s Hainan Mining Co. Ltd — a subsidiary of Fosun International.
Under Mali’s revised 2023 Mining Code, the state retains a 35% equity share, while the two foreign partners hold the remainder.
With a planned annual output of 120,000 tonnes of spodumene concentrate — a crucial component in electric vehicle (EV) batteries — Bougouni is poised to make Mali one of Africa’s foremost players in the energy transition era.
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President Goïta hailed the project as “a cornerstone of Mali’s determination to turn its natural wealth into tangible social and industrial progress,” emphasizing that mineral resources must serve as “drivers of transformation, not mere extraction.”
Located roughly 180 kilometers south of Bamako, the Bougouni site complements the Goulamina lithium mine, inaugurated in 2024, positioning Mali at the center of Africa’s emerging lithium corridor. Together, these two operations are projected to boost the country’s total lithium output to 590,000 tonnes by 2026, making Mali the continent’s leading producer and a significant force in the global EV battery supply chain.
Mali’s Minister of Mines, Amadou Keïta, highlighted the government’s broader effort to reform the mining sector and ensure transparency. “We have revoked 121 mining titles, including 100 exploration permits, to curb speculative practices and strengthen state oversight,” he said.
Beyond its strategic value, the Bougouni mine has already begun to yield socioeconomic benefits. It has created 500 local jobs in its first phase, with 800 more expected by 2028. Over its lifetime, the project is projected to contribute about $380 million to Mali’s economy, with roughly $41 million already infused locally, including $540,000 allocated to community development and infrastructure.Hainan Mining’s CEO, Teng David Lei, described the initiative as “a shared vision between Mali, China, and the United Kingdom,” underscoring its importance in “securing global supply chains for the energy transition.” Similarly, Kodal Mining Chairman Bernard Aylward called Bougouni “the first majority British-led lithium project in Mali,” built on international standards of safety, environmental protection, and fiscal transparency.
For Mali, Bougouni represents far more than another mining operation. The government envisions it as the foundation for a new industrial and energy hub — one where mining revenues will fuel local development, power infrastructure, and social welfare.
In an increasingly resource-driven global economy, Mali’s lithium ambitions mark a bold assertion of resource sovereignty and a growing influence in the world’s shift toward clean energy.
