ASX-listed Leo Lithium has received conditional approval from the Mali government for the sale of its remaining 40% stake in Mali Lithium BV (MLBV) to China’s Ganfeng, a critical step in the company’s exit from the Goulamina lithium project.

Leo announced last month that it had agreed to sell its remaining interest in MLBV, having failed to reach an agreement with the government over issues relating to the project.