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LONDON - Kodal Minerals PLC (AIM:LON:KOD), a mineral exploration and development company, has announced the successful transfer of the Foulaboula exploitation permit, a crucial mining licence for its fully-funded Bougouni Lithium Project in Southern Mali. The transfer from Future Minerals SARL to Kodal’s subsidiary, Les Mines de Lithium de Bougouni (LMLB), became effective immediately, solidifying the licence’s active status.
The company, on Monday, confirmed that the transfer was completed following the resolution of all compliance requirements, including the inclusion of the Government of Mali as a shareholder in LMLB. This step was necessary before the transfer could be authorized.
Kodal Minerals is also advancing discussions to secure the necessary permits for the export of spodumene concentrate produced at the project. Exports are anticipated to commence in the next quarter, marking a significant milestone for the company’s operations in the region.
The Bougouni Lithium Project is a flagship venture for Kodal Minerals, reflecting the company’s focus on the burgeoning lithium market, which is driven by the increasing demand for electric vehicles and energy storage solutions.
This development is based on a press release statement and constitutes inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The transfer represents a step forward for Kodal Minerals as it continues to develop its lithium extraction and production capabilities in Mali.
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