Kodal Minerals provides Mining Licence Transfer and project update

Construction of Bougouni is near completion, and the project achieved first lithium spodumene concentrate product in February 2025. The project is owned and operated by Kodal Mining (UK) Ltd (KMUK) in which Kodal has a 49% interest.

Highlights:

• The Bougouni Lithium Mine Dense Media Separation (DMS) processing plant has produced over 11 000 t of spodumene concentrate to date and is ramping up towards commercial production.
• For the last week of March 2025, the DMS processing plant processed a total of 13 400 t of material, producing 1920 t of spodumene concentrate grading 5.63% Li₂O.
• Export of the spodumene content to the Port of Abidjan in Côte d'Ivoire and then to China is expected to occur as soon as possible when the Bougouni Mining Licence is transferred and the associated permit for export of product is received from the government.
• Transfer of the Mining Licence from Future Minerals SARL to the Mali registered mining company Les Mines de Lithium de Bougouni SA (LMLB) is progressing, with all updates to LMLB’s company structure complete and signed off by the relevant Mali Government ministers. The Mining Licence transfer application is awaiting final approval and signing by the President of Mali, Assimi Goïta.
• Due to the delay in transferring the Mining Licence, KMUK has formally requested an extension of time for the second payment of US$7.5 million to the State of Mali, as specified in the binding Memorandum of Understanding. The Mali Government has acknowledged receipt of KMUK’s extension request letter and a response is pending.

Bernard Aylward, CEO of Kodal Minerals, remarked:

“I am pleased to confirm that the ramp-up and optimisation of the project and DMS processing plant is progressing and, positively, we are seeing ongoing improvements through the modifications and adjustments to the DMS processing plant as advancements continues.

“The team has created a considerable stockpile of spodumene concentrate ready for transport and sale, equivalent to the first month of expected production. We are continuing to increase the stockpile, which provides confidence in the ability of the operation to meet the proposed production schedule of 11 000 t of concentrate per month.

“Additionally, the company continues to assist KMUK in its work with the Mali Government for the transfer of the mining licence to KMUK’s local subsidiary, LMLB. The update of LMLB’s company structure to include the Mali Government’s shareholding has been completed and all necessary compliance has been approved by the Ministers of Mining and Finance. We look forward to receiving sign off from the President of Mali shortly, marking the successful completion of the transfer.”

Read the article online at: https://www.globalminingreview.com/mining/08042025/kodal-minerals-provides-mining-licence-transfer-and-project-update/