China Minmetals Corporation Expands Relationship with Mali Lithium.
ENPNewswire-September 3, 2019--China Minmetals Corporation Expands Relationship with Mali Lithium
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Release date- 03092019 - Mali Lithium (ASX: MLL or the Company) is pleased to announce that China Minmetals Corporation (Minmetals) subsidiary, the Changsha Research Institute of Mining and Metallurgy (CRIMM), will expand its relationship with Mali Lithium.
Since signing a Letter of Intent with Mali Lithium1, CRIMM has fully reviewed and analysed the PreFeasibility Study for the Goulamina Lithium Project completed by Mali Lithium and has committed to commence testing ore from Goulamina at its laboratory in Changsha.
Minmetals has a long history of expertise in lithium processing and product marketing through its specialist research facility and itssubsidiary Hunan Changyuan Lico Co Ltd (Hunan). Hunan is a StateOwned Enterprise in China which researches and produces predominantly lithium battery materials for distribution into the Chinese market.
The expansion of the relationship with Minmetals comes less than a week after Mali Lithium received its final approval for the Goulamina Lithium Project from the Malian government2. The award of a mining permit from the government completes the final regulatory requirement for the Goulamina project.
Chris Evans, MD of Mali Lithium, commented: 'China Minmetals is a Chinese government - owned US$470 billion company with considerable research, funding, offtake, engineering and construction capability.
'They have completed extensive due diligence and analysis of the Goulamina Lithium Project and it is testament to the quality, scale and potential of the project, and a vote of confidence in our management that they want to further our relationship.
'Minmetals hosted Mali Lithium at their facility in Changsha in May and their presentations to us confirmed that China is thinking long term when considering the future of the electric vehicle and power storage industries.
'Minmetals highlighted to us the importance of long term access to sources of reliable, high quality lithium raw material in jurisdictions amenable to Chinese investment.
'Mali Lithium has a world-class, fully permitted, high-grade project in a politically impartial and stable mining jurisdiction, with an maiden probable ore reserve of 31.2Mt @ 1.56% Li2O3 which converts to a 16-year mine life.
'This explains why the biggest mining company in China has taken such a keen interest in our project.
'The testwork on Goulamina ore at Changsha will occur over the coming months and the Company looks forward to continuing its work with Minmetals during this time.'
Tel: +61 419 853 904
About Mali Lithium
Mali Lithium Limited (ASX:MLL) is developing the world class Goulamina Lithium Project in Mali, West Africa. Goulamina is fully permitted and is the world's largest uncommitted hard rock Lithium Reserve. The company is currently completing its Definitive Feasibility Study and has released the results of its Pre-Feasibility Study (PFS) on the project to the ASX on 4 July 2018.
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((Distributed via M2 Communications - http://www.m2.com))
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|Date:||Sep 3, 2019|
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