Kodal Minerals PLC (AIM:KOD) has marked significant progress at its Bougouni lithium project in southern Mali, a development that underscores the growing importance of lithium in the global market. CEO Bernard Aylward reported that the project is now fully funded for Phase One, thanks to a transaction completed last November. This phase includes development, exploration, and further enhancements, setting the stage for a promising future in lithium extraction.
The collaboration between Kodal Minerals and its joint venture partner, Hainan Mining, has led to engineering improvements aimed at optimizing recovery rates. Preparatory work on Dense Media Separation (DMS) units and the crushing circuit is underway, with mining contractors poised to begin operations shortly. Initial efforts will focus on civil work, such as site preparation and clearing, to ensure the project is ready for commissioning by late October or November. The goal is to reach full production capacity by the end of the year.
Phase One of the Bougouni project is characterized by a swift development timeline and a capital expenditure of $65 million. Looking ahead, Phase Two aims to extend the mine's operational life to 10-15 years and boost production to over 370,000 tonnes annually. This expansion will involve the addition of a flotation plant to process ore from new prospects, further solidifying the project's role in the lithium supply chain.
The project has garnered strong support from the Malian government and local communities, a testament to its potential economic impact. The Environment Minister's recent visit to the site and subsequent approval highlight the project's alignment with national interests and environmental standards. For more details on the project's progress, visit https://www.kodalminerals.com.
Kodal Minerals' advancements at the Bougouni lithium project represent a critical step forward in meeting the global demand for lithium, a key component in batteries for electric vehicles and renewable energy storage. This development not only positions Kodal Minerals as a significant player in the lithium market but also contributes to the broader transition towards sustainable energy solutions.
