Mali has opened its second lithium mine in Bougouni, southern Mali, marking an important step in the country’s plan to turn its mineral wealth into a source of sustainable growth and industrial independence.
The mine was officially inaugurated on Monday, November 3, 2025, by Transitional President General Assimi Goïta.
It is run by Les Mines de Lithium de Bougouni SA (LMLB SA), a joint venture between the Malian government, Kodal Mining UK Ltd, and China’s Hainan Mining Co., Ltd., a subsidiary of Fosun International, Business Insider Africa reported.
The project, with an initial investment of $65 million, will produce 120,000 tonnes of spodumene concentrate each year, a key material used to make batteries for electric vehicles.
Under Mali’s 2023 Mining Code, Mali Approves Seven New Mining Agreements Under Revised Code To Expand State Revenue the state owns a 35% stake in the mine, while Kodal Mining and Hainan Mining share the remaining 65%.
President Goïta called the new mine “a cornerstone of Mali’s determination to turn its natural wealth into tangible social and industrial progress.”
He added that mineral resources should be “drivers of transformation, not extraction.”
Located 180 kilometres south of Bamako, the Bougouni site joins the Goulamina lithium mine, which opened in 2024, positioning Mali at the center of Africa’s lithium corridor.
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With both mines operating, Mali’s total lithium output is expected to reach 590,000 tonnes by 2026, making the country Africa’s top lithium producer and a key player in the global green energy supply chain.
Minister of Mines Amadou Keïta emphasized the government’s commitment to reform the mining sector for transparency and accountability.
“We have revoked 121 mining titles, including 100 exploration permits, to curb speculative practices and reinforce state oversight,” he said.
The Bougouni project has already created 500 local jobs, with another 800 expected during its second phase by 2028.
Its total contribution to the national economy is estimated at $380 million, with roughly $41 million already injected into the local economy, including $540,000 dedicated to community initiatives and infrastructure.
For Teng David Lei, CEO of Hainan Mining, the mine “reflects a shared vision between Mali, China, and the United Kingdom,” highlighting its role in “securing global supply chains for the energy transition.”
Bernard Aylward, Chairman of Kodal Mining, called Bougouni “the first majority British-led lithium project in Mali,” built on “international standards of safety, environmental protection, and fiscal transparency.”
Beyond its economic value, the government sees Bougouni as a new industrial and energy hub, where mining revenues will be reinvested in local development, power infrastructure, and community welfare.
For Mali, this project is more than just a mine; it is a statement of resource sovereignty and a sign of Africa’s growing influence in the global race for critical minerals.
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Image Credit: APA News
