Name of the Project
Goulamina lithium project.

Location
Southern Mali.

Client
Birmian.

Project Description
A prefeasibility study (PFS) on the project has confirmed the technical and economic viability of Goulamina, with four possible development scenarios considered.

Scenario 1: a small pit at one-million tonnes a year (base case).

Scenario 2: a large pit at two-million tonnes a year for the life-of-mine.

Scenario 3: a small pit at one-million tonnes a year for the first three years of production and two-million tonnes a year thereafter.

Scenario 4: a large pit at one-million tonnes a year for the first three years of production and two-million tonnes a year thereafter.

A fifth scenario – the secondary processing of 56% of the available spodumene concentrate to produce battery-grade lithium carbonate for sale, and selling the residual spodumene concentrate – has also been considered. 

This scenario is based on a concept study undertaken on the secondary processing of spodumene-to-lithium carbonate.

Based on the different scenarios, the PFS envisages a project operational mine life of 8.8 to 14 years, processing between 14-million tonnes at 1.39% Li2O and 20.6-million tonnes at 1.31% lithium oxide (Li2O). The plant will produce a 6% Li2O concentrate at an average recovery of 80.7%, demonstrated by metallurgical testwork.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based of the five possible scenarios, the project has a net present value (NPV), at a 10% discount rate, of between $85.6-million and $126.4-million and an internal rate of return of between 21% and 22%.

The inclusion of secondary processing will lift the project’s NPV to $637.9-million.

Value
The estimated capital cost ranges from $86.9-million to $412-million.

Duration
For the purposes of the PFS, it is assumed that project construction will start in mid-2019, with initial production expected in early 2021 and a six-month production ramp-up period.

Latest Developments
Birimian has doubled the mineral resource estimate at its Goulamina lithium project.

Following recent exploration success, Birimian has revised the mineral resource at Goulamina to 65-million tonnes, grading 1.43% Li2O, for a contained Li2O content of 931 000 t.

The resource now includes an indicated resource of 43.7-million tonnes, compared with the previous 25.3-million tonnes.

“At 32.9-million tonnes, Goulamina was impressive. At 65-million tonnes, it is even more so and clearly one of the world’s outstanding hard-rock lithium deposits,” Birimian CEO Greg Walker has said.

“Considering that our principal orebodies are open at their extremities and at depth, and that we still have Yando, Danaya and Sabali to delineate, in addition to exploration targets as yet untouched, I think it is apparent that the full extent of Goulamina very much remains to be determined.”

Walker has said that the company now has sufficient high-grade lithium-bearing pegmatite to justify a significant mining development; a revised prefeasibility study expected this month, while first production has been slated for 2020.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Birmian, tel +61 8 6382 2226 or email info@birmian.com.