President Assimi Goïta Inaugurates Mali’s Second Lithium Mine to Boost Economic Sovereignty

Bamako, November 4, 2025 - President of the Transition, General Assimi Goïta, officially inaugurated the Bougouni Lithium Mines SA (LMLB SA), Mali’s second operational lithium mine. The event highlights the Transitional Government’s determination to strengthen economic sovereignty and leverage the country’s natural resources despite a complex security and geopolitical environment.

The Bougouni mine represents a key milestone in Mali’s ambitious policy of resource-driven, inclusive, and sustainable growth. Positioned in the Bougouni region, the project aims to transform the nation’s rich lithium reserves into a driver of local development and global energy participation. Lithium, essential for batteries in electric vehicles, smartphones, and energy storage, places Mali among countries actively contributing to the energy transition.

The Bougouni Lithium Mines SA project is structured in two main phases. The first phase at the N'Gouanala site, already underway, involves a $65 million investment and will produce nearly 120,000 tons of lithium concentrate annually over four years. The second phase, scheduled for 2028, will expand operations to the Sogola-Baoulé and Boumou sites, requiring $180 million in investment and increasing production to over 200,000 tons per year. In total, $245 million (over 150 billion CFA francs) will be invested, reflecting strong investor confidence in Mali’s stability and governance.

The mine employs advanced, environmentally friendly technologies to ensure efficient extraction while minimizing ecological impact. The project’s operations will create jobs, improve local infrastructure, and support community development through education, health services, and local entrepreneurship initiatives.

The Malian state holds a 35% stake in the company, including a 10% free share under the new Mining Code, ensuring fair distribution of wealth and long-term benefits. Revenues for Mali are projected at over $380 million (approximately 230 billion CFA francs) from taxes, royalties, and dividends. Beyond financial gains, the project will generate direct and indirect employment, develop regional infrastructure, and empower local communities.

The inauguration of the Bougouni Lithium Mines SA underscores Mali’s commitment to economic autonomy. By focusing on local value creation and responsible management, the government aims to make natural resources a catalyst for national transformation. The project exemplifies state-investor partnerships based on transparency, social responsibility, and sustainable growth.

The Bougouni mine represents both a national pride and a strategic vision for Mali. By responsibly developing lithium resources, the country is positioning itself as a key player in the global energy transition while ensuring that benefits accrue primarily to its citizens. The mine will contribute to long-term economic stability, technological advancement, and community empowerment, reaffirming Mali’s path toward economic, technological, and energy sovereignty.