Recently, Hainan Mining released an announcement, announcing that its controlling subsidiary KMUK and its wholly-owned subsidiaries FM and LMLB formally signed a Memorandum of Understanding (MOU) with the Malian government. The MOU aims to clarify the framework and specific terms of cooperation between the parties on the Buguni lithium project, laying a solid foundation for the subsequent development and operation of the project.

According to the content of the MOU, the Bougouni Lithium Project will be uniformly included in the jurisdiction of the new Mining Law of Mali, a decision that ensures the compliance of the project in terms of laws and regulations, and provides a legal guarantee for the long-term development of the project. The Government of Mali has pledged its full support for the project and has agreed to transfer the mining rights for the Bougouni Lithium Project from FM to LMLB, which not only simplifies the management structure of the project, but also ensures the continuity and stability of the project.

In conjunction with the transfer of the mining rights, the Government of Mali and the Government's investors will receive a 35% equity stake in LMLB, which is set as preferred shares. Specifically, the Government of Mali will receive 10% free of charge, while the remaining 25% will be purchased by the Government of Mali and government investors for approximately US$4.3 million. This arrangement not only reflects the importance and support of the Malian government to the project, but also protects the rights and interests of the government and investors in the project.

In addition, the MOU also specifies the total amount of taxes and fees that Hainan Mining and its subsidiaries are required to pay to the Malian government. According to the agreement, KMUK and FM will jointly pay a total of USD 15 million to the government. The payment of this fee not only contributes to the growth of the Malian government's revenue, but also reflects Hainan Mining's commitment to fulfilling its social responsibility and contributing to the development of the local economy as a foreign-funded enterprise.

Hainan Mining said that the Buguni lithium project is an important part of the company's strategic layout. Through the cooperation with the Malian government, the company will further expand its mineral resources development business in Africa and enhance its competitiveness in the global lithium market. At the same time, the Company will also actively fulfill its social responsibility and promote local economic development and social progress.

The Malian government has expressed high appreciation and expectation for this cooperation. The government said that the successful implementation of the Bougouni lithium mine project will bring significant economic and social benefits to Mali, and help Mali achieve the development goal of industrialization and modernization. At the same time, the Malian government will provide all-round support and guarantee for the smooth implementation of the project.

By www.WORLDMR.net