Kodal Minerals has achieved its first spodumene concentrate production at the Bougouni project in southern Mali, marking the country's second operational lithium mine in less than two months.
Kodal Minerals has achieved its first spodumene concentrate production at the Bougouni project in southern Mali , marking the country's second operational lithium mine in less than two months. This milestone was reached during the commissioning of the Dense Media Separation ( DMS ) processing plant. Initial production yielded a spodumene concentrate with a lithium oxide (Li₂O) grade of 5.53%, aligning with Kodal's planned production targets.
This achievement paves the way for the plant to ramp up to its full capacity of 10,000 tonnes per month in the coming weeks. Kodal's CEO, Bernard Aylward, stated that the operational focus in the coming weeks will be finalizing the commissioning and stress testing of the DMS processing plant as they strive to reach nameplate capacity and steady-state production. He also confirmed plans to ship the first batch of lithium spodumene concentrate to China's Hainan Group by the end of the current quarter. Kodal's shares surged on the news, trading nearly 5% higher at 0.42p in London mid-afternoon, bringing the miner's market capitalization to £83 million ($103 million). Construction costs for the Bougouni project have remained within the estimated $65 million budget, with only minor optimization tasks outstanding. The development has been financed by Kodal's partner, Hainan Group, which holds a 51% stake in the project. Kodal was in competition with Australia's Leo Lithium (ASX: LLL) in the race to develop Mali's first lithium mine. Located 170 km south of Mali's capital, Bamako, Bougouni is situated in an area with several established mining operations, including Hummingbird Resources's Yanfolila mine and B2Gold's Fekola mine. The company is currently working on transferring the mining license to its Chinese partner. The Mali Mines Department has already approved the move, and final compliance steps are nearing completion, with the issuance of a new mining decree pending the signature of interim President Assimi Goïta. Mali's military leadership has implemented sweeping changes to the mining sector in recent years, adopting a more assertive stance towards foreign investors. In August 2023, the government enacted a new mining code that increases the state's share of mining revenues and eliminates tax exemptions for mining companies. A winter 2025 exploration program is planned, expected to run through mid-April, targeting a minimum of 15,000 metres of drilling using four rigs.
Lithium Spodumene Mining Kodal Minerals Mali Hainan Group Bougouni Project Dense Media Separation DMS Mining License African Mining
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