Firefinch and Ganfeng’s $194 Million Investment into Goulamina Lithium Deposit in Mali

Gilbert + Tobin advise Firefinch on the negotiations and drafting of the full form transaction documents.

Firefinch Limited (ASX:FFX) has entered into an incorporated joint venture with Chinese battery metals giant Ganfeng (SHE:002460), the world’s largest lithium producer by capacity, in respect of its Goulamina project in the West African nation of Mali.

The deal will see Ganfeng provide funding of up to $US194 million in return for a 50% stake in the Goulamina Project.

Firefinch and Ganfeng have executed a binding term sheet which establishes a 50:50 incorporated joint venture between Firefinch and Ganfeng. Ganfeng has also agreed to an offtake agreement for up to 100% of the spodumene concentrate produced at the Goulamina Project across the life of the mine. The deal means that the Goulamina Project is almost fully funded and is set to become the world’s next big lithium development.

Firefinch Limited is gold miner and lithium developer, with two outstanding assets in Mali – the Morila Gold Mine and Goulamina Lithium Project.

The G+T team was led by Energy + Resources partner Michael Blakiston (Picture), with support from lawyer Amelia Arndt. 

Involved fees earner: Amelia Arndt – Gilbert + Tobin; Michael Blakiston – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Firefinch Ltd;

Author: Sonia Carcano