Ganfeng Lithium Group Co. is set to acquire a 40% stake in the Goulamina lithium mine project in Mali from Leo Lithium Ltd. for around $342.7 million. Arcadium Lithium is on track to increase lithium sales volumes by 40% for the year, with plans to expand capacity to 170,000 LCEs by 2026. Arcadium expects to invest $1.6 billion in growth capital over three years and has multiple funding sources available for its expansion projects.
China’s Ganfeng Lithium Group Co. plans to buy out its partner in a lithium mine being developed in Mali. Its board approved a proposal to acquire 40% of the Goulamina project from Leo Lithium Ltd. for $342.7 million https://t.co/9sJupB8qIc
Leo Lithium receives $65 million for 5% in Goulamina stake sale and a further $342.7 million for its outstanding 40% stake, each from Ganfeng. Goulamina project to migrate to 2023 Malian Mining Code, lifting potential govt stake from 20% up to 30%, plus a further 5% local stake
Leo Lithium receives $65 million for 5% in Goulamina stake sale and a further $347.2 million for its outstanding 40% stake, each from Ganfeng. Goulamina project to migrate to 2023 Malian Mining Code, lifting potential govt stake from 20% up to 30%, plus a further 5% local stake
Leo Lithium settles issues with Mali govt with $60 mln payment - and sells rest of its stake in Goulamina to partner Ganfeng in the process. Project on track for 1st spodumene production in Q3. #lithium
Sigma Lithium Increases Proven And Probable Reserves To 77.0 Million Tonnes At 1.40% Li2O $SGML #lithium #mining #Brazil https://t.co/YIotOn4Xy5 via @TheDeepDive_ca
Arcadium #Lithium also has a $500 million undrawn revolving credit facility that can be expanded up to $700 million & will pursue other potential financing options "such as government loans & grants, customer prepayments, asset level financings, or strategic partnerships."
Arcadium #Lithium has multiple available sources of funding, with the main sources coming from currently available cash plus free cash flow generation that will be strengthened by new production volumes coming online, it says
Arcadium #Lithium expects to spend about $1.6 billion in growth capital in the 3 years from 2024 to 2026 to fund its expansions, it says. Is in a strong position to complete these growth projects and will adapt its expansion plans as market conditions demand, it adds
Arcadium Lithium says it remains on track to achieve a 40% increase in combined #lithium hydroxide and lithium carbonate sales volumes for the full year, with volume growth weighted towards the second half of 2024.
Arcadium #Lithium is bringing additional capacity into production in 2024 as planned, while also investing in the next series of expansions, says its CEO. "By the end of 2026, we expect to increase total capacity to 170,000 LCEs, or over four times production levels in 2023."
"We see encouraging signs in the #lithium market & underlying demand fundamentals remain very strong. Prices have increased from the cycle bottom & appear to have stabilized at levels that are notably higher than what we saw in the last downturn," says Arcadium CEO
China’s Ganfeng Lithium Group Co. plans to pay about $408 million to buy out its partner in a lithium mine being developed in Mali. https://t.co/hWr5zD0Rhe