With his five-star army general’s cap on his head and wraparound sunglasses, Assimi Goita strolled past crushers, conveyor belts and several tons of rubble from a whitish rock containing one of the world’s most sought-after metals: lithium. On December 15, the Malian junta leader was in Goulamina, some 150 kilometers south of Bamako, to inaugurate a new production plant for this mineral, used primarily in electric battery production. Under increasing financial pressure, the ruling military sees this new industrial site as a godsend, a way of bringing in the money that is missing from their coffers.

Behind this project is a Chinese company, listed on the Shenzhen and Hong Kong stock exchanges, which will use this mineral to manufacture batteries in China: Ganfeng Lithium. Like other international companies, it has not escaped the junta’s increased control over the mining sector. Since coming to power through a coup in 2020, General Goita and his nationalist-putschist allies have undertaken a restructuring of the industry, introducing a new mining code. Key changes include granting the state up to 30% ownership of all mines, significant tax increases and requiring companies to deposit their profits into a bank account in Mali.

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