Kodal Minerals reports significant progress at Bougouni lithium project in Mali
London, UK
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March 27, 2024 08:29 AM Eastern Daylight Time
Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward joins Proactive's Stephen Gunnion with details of the latest milestones at the Bougouni lithium project in southern Mali.
Aylward highlighted that the project has seen significant progress following the completion of a transaction last November, ensuring the development is fully funded, including Phase One development, exploration, and further developments. The integration of teams from Kodal Minerals and their joint venture partner, Hainan Mining, has led to engineering improvements for better recovery and optimisation of the project.
Work on Dense Media Separation (DMS) units and the crushing circuit has commenced, with mining contractors expected to mobilise soon. The initial focus will be on civil work, including site preparation and clearing, to ready the operation for commissioning in late October or November, aiming for full production by year-end.
Phase One of the project involves a quick development process with a capital expenditure of $65 million. Phase Two aims to extend the mine life to 10-15 years, increasing production to over 370,000 tonnes per annum by adding a flotation plant for processing ore from additional prospects.
Aylward said the project enjoys support from the Malian government and local communities, with the Environment Minister visiting the site and expressing satisfaction.
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