What's Happening?
Kodal Minerals has received an export permit for the spodumene concentrate produced at its Bougouni lithium project in southern Mali. The permit allows for the export of an initial 125,000 tons of spodumene concentrate, contingent on completing final administrative steps. The project is operated by Les Mines de Lithium de Bougouni, a subsidiary of Kodal Mining UK, in which Kodal holds a 49% share. The permit was authorized by the Ministry of Mines and signed by Mines Minister Professor Amadou Keita. Kodal CEO Bernard Aylward emphasized the importance of the permit for the development of the Bougouni project and Mali's spodumene industry. The pricing mechanism for the project is based on the Shanghai Metal Market reference price for spodumene. A transport contract has been signed with a leading Malian transport company for exporting material to Côte d’Ivoire.
Why It's Important?
The export permit is a significant milestone for Kodal Minerals, enabling the company to advance its Bougouni lithium project and contribute to Mali's growing spodumene industry. This development supports Mali's economic growth by fostering the mining sector and attracting foreign investment. Kodal's ability to export spodumene concentrate enhances its market position and potential revenue streams. The project aligns with global demand for lithium, driven by the electric vehicle and renewable energy sectors. The successful export of spodumene concentrate could bolster Mali's reputation as a viable mining destination, encouraging further exploration and development in the region.
What's Next?
Kodal Minerals will focus on completing the final administrative processes required for the export of spodumene concentrate. The company plans to mobilize the trucking fleet to the site as soon as possible, ensuring efficient transportation to the port location in Côte d’Ivoire. Kodal will continue to work closely with the Mali Ministry of Mines and other stakeholders to facilitate the project's progress. The successful export of spodumene concentrate may lead to further expansion and development opportunities for Kodal Minerals in Mali.
