GFL International Co., Ltd. agreed to acquire additional 40% stake in Mali Lithium BV from Leo Lithium Limited for $340 million.

Leo Lithium Limited is an Australia-based company that is engaged in the exploration for lithium minerals in Mali. The Company is focused on the development of the Goulamina lithium project in Mali in a joint venture with Ganfeng Lithium Co. Ltd. The Goulamina Lithium project comprises a land holding of approximately 100 square kilometers (km2) in the Bougouni Region of southern Mali, approximately 150 kilometers (km) by road from Mali’s capital, Bamako. The land holding comprises of Goulamina mineral deposit.