Exploration in Africa Historically Underfunded

Africa has become the ideal jurisdiction for exploration and development driven by it’s compelling geology

Africa: lithium mining landscape

exploration in africa

$17m

Spent on exploration in Africa in 2021 (7% of global)

10%

Spent ($25M) on grassroot exploration

5

Projects in Africa with over $1M in exploration budgets (2021)

Exploration focus has
been on pegmatites
(ex-tantalum mines) in Australia and large lithium salars in South America

Globally, there are a limited number of large scale, undeveloped lithium deposits

Greenstone belts across Africa present an attractive jurisdiction for new investment

African hardrock Li sources offer the potential for low capex, rapid permitting and simple processing when compared to Salars, Brines and Clay resources in the western world

AFRICAN DEVELOPERS attracting asian capital

Africa has seen an exponential increase in Lithium exploration efforts and is set to become a substantial new source of supply. Lithium Africa has an early mover advantage and seeks to play a major role in the shifting global supply chain for this chemical

Recent Chinese investments
into African lithium projects:

June 2021

Ganfeng Lithium US $130M investment to form 50/50 JV with FFX on the Goulamina project in Mali

Sept 2021

CATH (CATL JV) project level investment into ManonoDRC US $240M for 24%

Dec 2021

Haoyou International Mining acquisition
of 100% of Arcadia project(Prospect Resources) in Zimbabwe for $422M

Jan 2023

Hainan will acquire 51% in Kodal’s newly incorporated UK subsidiary, Kodal Mining UK for $100 M commitment

Mar 2024

Leo Lithium’s previously announced agreement to sell an additional 5% of MLBV to Ganfeng for $65-million

AFRICA'S POTENTIAL

Bikita in Zimbabwe is one of the world’s largest lithium mines, anchoring Zimbabwe’s position as the 4th largest lithium-producing country globally

Bikita in Zimbabwe

5th largest producer of lithium in the world

Unexplored Investment

Low Exploration Costs

Infrastructure

Established Infrastructure in Key Jurisdictions

Right Geology

Archean and Paleoproterozoic Greenstone Belts and Basins

Limited Alternatives

Large brines are known and have been consolidated, limited opportunities in Australia and North America without high technical risk

Goulamina is now a world-class producer, achieved first production in 2024 and is ramping toward 506,000 tonnes of SC6 per year in Phase 1, with Phase 2 targeting over 1 million tonnes per annum