Kodal Minerals reports advancements at Bougouni lithium project
Kodal Minerals has reported notable advancements at its Bougouni lithium project in southern Mali, with construction work approaching completion and commercial production expected soon. The company has already begun processing ore through its Dense Media Separation (DMS) plant, producing over 11,000 tonnes of spodumene concentrate.
In the final week of March alone, the facility processed 13,400 tonnes of ore, yielding 1,920 tonnes of lithium concentrate with a grade of 5.63% lithium oxide. These figures indicate strong early operational performance as the site moves toward full-scale production.
Commercial operation
Once Bougouni begins commercial operations, it will become the second lithium mine in Mali to come online within a short span, following Ganfeng Lithium’s launch of spodumene production at the Goulamina project in December 2024. This marks a significant step for Mali as it emerges as a growing hub for lithium production, which is critical to the global shift toward electric vehicles and renewable energy storage.
Despite operational progress, the project has encountered administrative delays related to the formal transfer of the mining license. The license needs to be moved from Future Minerals SARL to Les Mines de Lithium de Bougouni SA (LMLB), the operating company. LMLB is 65% controlled by Kodal Mining UK, a joint venture between Kodal Minerals and China’s Hainan Group, while the Malian government retains a 35% stake. Approval from Mali’s mining and finance ministries has been secured, with final authorization awaiting presidential approval.
To accommodate these delays, Kodal Minerals has requested an extension for a $7.5 million payment to the Malian state, originally due under a memorandum of understanding signed in November 2024. The government has acknowledged receipt of this request, and a formal response is anticipated. CEO Bernard Aylward remains optimistic, noting that the company has already stockpiled a month’s worth of spodumene concentrate and is on track to meet its monthly production target of 11,000 tonnes.
Strategically located around 170 kilometers south of Bamako, the Bougouni project lies in a region known for its mining activity, including the nearby Yanfolila gold mine operated by Hummingbird Resources and B2Gold’s Fekola mine. Kodal’s development aligns with growing interest in West Africa as a key supplier of critical minerals, particularly lithium, which is vital to the clean energy transition.
