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Kodal Minerals is set to become West Africa’s first London-listed lithium producer when its Bougouni project in southern Mali begins production in the fourth quarter of this year.its timeline to first production and noted it had finalized a $117.75 million funding package to develop Bougouni’s first stage.
“The past 12 months have been truly transformational for Kodal as the Bougouni lithium project has advanced in Mali and transitions from developer to producer,” chief executive Bernard Aylward said in the statement. Located 170 km south of the capital city Bamako, the Bougouni project is situated in an area hosting several established mining operations, including Hummingbird’s Yanfolila mine and B2Gold‘s Fekola mine.
Kodal also reported on Tuesday a significant increase in mineral resources, strong financial growth with a 266% increase in net assets, and the implementation of community-focused ESG initiatives.
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