Leo Lithium (ASX:LLL) completed the sale of its 40% stake in Mali Lithium to China-based GFL International (Ganfeng), according to a Tuesday filing with the Australian bourse.
Mali Lithium is the holding company of the Goulamina lithium project in Mali.
On completing the sale, the lithium company will receive an initial payment of $161 million, with $44.7 million to be deducted to cover Mali's capital gains tax, the filing said.
A second tranche of $171.2 million is due by June 30, 2025.
The initial payment, along with a $10.5 million deposit and an AU$11.5 million Firefinch contribution, will be distributed to shareholders in January 2025, the filing added.
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