China’s Ganfeng Seeks Full Control of Lithium Mine in Mali

(Bloomberg) — China’s Ganfeng Lithium Group Co. Ltd. plans to pay about $343 million to buy out its partner in a lithium mine being developed in Mali.

The board of the Chinese lithium mining and processing giant approved the company’s proposal to acquire 40% of the Goulamina project from Australia’s Leo Lithium Ltd. for $342.7 million, according to a statement Tuesday. Ganfeng has also completed a previous agreement announced in January to buy a 5% interest from Leo for $65 million.