Leo Lithium Limited announced today, 14 July 2023, that it has finalised the contract for mining services at the Goulamina lithium project in Mali to Corica Mali, a subsidiary of Corica Mining Services. The contract is valued at around 348 million US dollars (approximately 200 billion FCFA). The contract has a duration of five and a half years, including six months of pre-production activities and five years of operations. Corica was selected following a competitive bidding process and an in-depth review on the basis of safety, experience, capacity, equipment availability and cost.
A contract worth around 200 billion FCFA
Corica Mali’s obligations extend to grade control, drilling, blasting, loading and transport, and ore feed to the plant, the press release said.
The target for the transportation of materials is between 18 and 20 million tonnes per year for the duration of the contract. Corica has already mobilised on site for the preliminary work and plans to extend its services to ore extraction and crushing.
Corica already present in Africa, including Burkina Faso
Corica has been operating in the West African region for over 20 years and employs over 2,000 people. It currently provides mining services to listed companies at 7 mining operations in Mali, Côte d’Ivoire, Burkina Faso and South Africa. Simon Hay, Managing Director of Leo Lithium, said: «We are delighted to have selected Corica as our mining services provider following an intensive tender process. Corica has a long history and a strong presence in Mali. With the mining contractor now in place, Leo Lithium has taken another important step towards achieving its target of first production in the first semester of 2024. We look forward to working with Corica over the long term».
Leo Lithium is developing the Goulamina lithium project in Mali. This hard rock project will be the first of its kind in West Africa. The initial development phases are under way, and first production is scheduled for the first semester of 2024. It is one of the few lithium development projects in the world to benefit from substantial financing. Ganfeng has provided 130 million US $ in equity and a 40 million US $ credit facility.
Pierre Balma
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