Name of the Project
Goulamina lithium project.

Location
The project is located in southern Mali.

Client
Birimian.

Project Description
An updated prefeasibility study (PFS) on the Goulamina project has confirmed that the project can be profitably developed as a large-scale, low-cost, hard-rock lithium mine.

The project has a maiden ore reserve of 31.2-million tonnes at 1.56% lithium oxide (Li₂O). The PFS envisages a conventional opencut mining operation, with abstraction through conventional load-and-haul, using standard mining equipment.

The mine will supply a two-million-tonne-a-year mineral concentrating plant. Processing will be through a conventional spodumene beneficiation plant that incorporates crushing, reflux classification, dense-media separation, milling, flotation, concentrate handling and tailings disposal producing an average of 362 000 t of 6% Li₂O spodumene concentrate, or 53 704 t of lithium carbonate equivalent a year, for the initial mine life of 16 years. The operation will deliver ore to a run-of-mine pad and waste to a single large dump from the openpits.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of A$920-million and an internal rate of return of 49.5%, with a payback of 2.6 years including production ramp-up.

Value
The project will cost about A$196-million to implement.

Duration
Construction is expected to start in the first half of 2019, with plant commissioning and the start of production expected by March 2020.

Latest Developments
The updated PFS has recommended that the project progress to a feasibility study.

Key Contracts and Suppliers
Ausenco Services (lead contractor for the completion of the PFS and final report generation. Process plant and infrastructure designs and development of associated capital and operating cost estimates); AQ2 (hydrogeological studies); Cube Consulting (mineral resource and ore reserve estimates); Majesso Consulting (capital and operational expenditure estimates for mining); Land & Marine Geological Services (tailings storage facility engineering and design); ALS Metallurgy and Valdrew Nominees (metallurgical testwork); Digby Wells Associates Mali (environmental- and social-impact studies); Roskill Consulting UK (lithium supply demand and cost forecast); Siggiconnect (independent concentrate price forecast); and Northshore Capital Advisors (financial modelling).

On Budget and on Time?
Too early to state.

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