Bougouni Project's first shipment of spodumene concentrate departs Port of San Pedro

The vessel arrived on 29 November 2025 and the loaded vessel subsequently departed on 30 November 2025 bound for the destination port in Hainan Province, China.

Following completion of loading, our local Mali registered mining company, Les Mines de Lithium de Bougouni (a subsidiary of Kodal Mining UK Limited in which Kodal has a 49% shareholding), will submit an invoice for the initial 95% of the cargo value with the offtake partner, Hainan Mining Co. Ltd. LMLB are subsequently due to receive the first payment from this shipment for a total expected value of c. US$24 million.

The focus of LMLB’s operations over the recent weeks has been the transport of over 30 000 t of lithium spodumene concentrate from the Bougouni Lithium Project in Southern Mali to its dedicated stockpile facility at the Port of San Pedro, a c. 880km road journey, ahead of first shipment. This successful transport operation as well as the subsequent loading and departure of the vessel from the port highlights the effectiveness of the transport route. To date, the Stage 1 Dense Media Separation processing plant at Bougouni has produced over 45 000 t of lithium spodumene product, grading an average lithium oxide content of 5.39%.

Bernard Aylward, CEO of Kodal Minerals, remarked: “The completion of the loading and the departure of our first shipment of lithium spodumene concentrate to our joint development and offtake partner, Hainan, is a major milestone for our team and will result in the receipt of the first revenues from the Project.

“Additionally, the significant improvement in the lithium pricing environment in recent weeks will be reflected in the sale price for our spodumene concentrate as per the terms of the Offtake Agreement. The final sale price for the lithium spodumene product will be adjusted to account for the actual grade and quality of product delivered and deducting the cost of sea freight, the company expects the price to exceed US$930 per dry t of spodumene concentrate.

“I would like to thank all of our stakeholders who have made this critical step possible – our loyal shareholders, dedicated workforce, supportive Malian stakeholders, including the Malian Government, the office of the Governor of the Bougouni Region and the entire Bougouni community, many of whom are amongst the 650-strong team on site at Bougouni. Additionally, I would like to thank Hainan for its unwavering support of the project as our joint development and offtake partner, without which today’s momentous achievement would not have been possible.”

Read the article online at: https://www.globalminingreview.com/exploration-development/02122025/bougouni-projects-first-shipment-of-spodumene-concentrate-departs-port-of-san-pedro/