Kodal on track to produce lithium at Bougouni in the fourth quarter

26th March 2024

By: Darren Parker

Creamer Media Contributing Editor Online


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Mineral exploration and development company Kodal Minerals has said its Bougouni lithium project, in southern Mali, is on track to begin production in the fourth quarter, following the achievement of several key milestones in the first quarter.

In addition, the company said the Bougouni Stage 1 dense media separation (DMS) circuit is fully financed with all permitting in place, including environmental and social permits, with Kodal’s community development plan also recently approved by Mali’s Environment Ministry.

“The first quarter of 2024 has seen major progress as we push ahead with the development of our flagship Bougouni lithium project. The integration of the Hainan and Kodal groups within [Kodal Mining UK (KMUK) is a] positive collaboration [which] is very important to keep our development momentum moving forward. The new management team has worked together . . . to review and improve the development plan for Bougouni,” Kodal Minerals CEO Bernard Aylward said on March 26.

On November 15 last year, Kodal announced that it had received all funds related to the funding transaction for $117.75-million agreed between the company and Hainan Mining, comprising a $100-million investment from Hainan to acquire 51% of the Bougouni project company, KMUK, and a further $17.75-million received for the subscription for new ordinary shares in Kodal Minerals at 0.5p a share.

So far, the KMUK management team has established and completed review of the project development plan, confirming $65-million capital expenditure estimate for Bougouni lithium project Stage 1 using a DMS approach.

As such, the long lead items of the DMS units and dual stream crushing modules have been ordered and work has started on the build.

“This month we also signed contracts for the supply of the crushing circuit and DMS modules from experienced suppliers in China and expect these long lead items will be available on site in time to maintain our expectation of first production in quarter four,” Aylward said.

The mining contract was finalised with a consortium consisting of Malian mining contractor EGTF Mining and Auxin Mining Services Mali, with costs consistent with the feasibility study. The mining contractor will mobilise to site this month and will begin with site clearing and civil engineering works in early April along with other key site establishment activities.

The Mali Minister for Environment Professor Tiémoko Sangaré visited the Bougouni lithium project and endorsed the company’s development programme and development of the DMS processing site, after approving the updated environmental and social impact assessment for Bougouni project Phase 1 DMS in February.

The all-weather access roads to the Ngoualana openpit and DMS processing site are now complete, while negotiations with local community groups on land compensation are progressing.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


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