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Kodal provides Bougouni Lithium project update

Published by , Editorial Assistant
Global Mining Review,

Kodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, has provided an update on project development progress at its Bougouni Lithium project in southern Mali. The company is committed to accelerating the development of the project through the lower capital cost dense media separation (DMS) processing plant option, which will also allow the company to take advantage of a near-term buoyant lithium market. In addition, the company is pleased to announce the appointment of Canaccord Genuity Limited as joint broker to the company with immediate effect.


  • The company is progressing with plant engineering and environmental studies required for the DMS plant option.
  • The company is finalising engineering and environmental work to support formal approval for the DMS option from the Mali Government, for which application is currently expected to be submitted in early 2023.
  • Activities and status of work is: 
    • DMS plant concept designs - complete.
    • Tailings storage layout and concept design - complete.
    • Environmental studies required for the change notification – progressing.
  • Exploration Manager appointed to lead all exploration and pre-development activities from site, with a focus on expanding DMS ore sources within the existing mining licence permit area. Canaccord appointed as joint broker.

Bernard Aylward, CEO of Kodal Minerals, remarked:

“Our engineering team has made great progress with the various design concepts and environmental updates required to finalise the requirements to commence the fast-track DMS development. We anticipate that the formalised change notification will be issued to the Malian authorities in early 2023.

“The recent decision by the Mali Ministry of Mines to suspend the issuance of new mining permits does not impact the company’s development progress. Engineering activities have therefore continued to progress in parallel with the company’s ongoing negotiations with potential financing partners.

“To support the company’s fast track development timeline, Kodal has re-appointed experienced exploration manager, George Michaelides. George was responsible for the company’s initial exploration and drilling programmes at Bougouni, from which our 21.3 million t resource was defined. George will be tasked with expanding our resource base with the objective of extending the life of mine.

“We are also pleased to announce the appointment of Canaccord as the company’s joint broker, enhancing our corporate coverage in partnership with our long-term broker SP Angel. We look forward to the contribution Canaccord can make as we progress with our financing solution for the development of the Bougouni lithium mine.”

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African mining news Lithium mining news