Name of the Project
Bougouni lithium project.

Location
The project is located in southern Mali.

Project Owner/s
Kodal Minerals. Singapore-based Suay Chin holds 29.02% in Kodal.

Project Description
The feasibility study proposes an openpit contract mining operation and conventional milling and flotation processing facility capable of treating two-million tonnes a year of ore, complete with asso­ciated infrastructure to mine and process about 16-million tonnes of pegmatite ore over an initial 8.5-year mine life.

Production will average 220 000 t/y of 6% spodu­mene concentrate.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated net present value, at a 7% discount rate, of $300-million and an after-tax internal rate of return of 51%, with a payback of 1.7 years.

Capital Expenditure
The project is estimated at $117-million.

Planned Start/End Date
Kodal aims to have the mine in production in the second half of 2021.

Latest Developments
Kodal Minerals has reported that an updated feasibility study, reflecting the new Mali 2019 Mining Code and other minor amendments for its Bougouni lithium project, has been lodged with Mali’s directorate of geology and mines – the Direction Nationale de la Géologie et des Mines (DNGM), in Bamako.

Kodal representatives have been liaising with the DNGM, with the miner awaiting a request for payment of the mining licence fee.

Payment of the fee will allow for the drafting of the mining licence decree for final Ministerial approval.

Meanwhile, Kodal says it is closely monitoring the situation amid political unrest in Mali and the deposing of President Bah Ndaw.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Kodal Minerals, tel +44 20 3463 2260.