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BAMAKO - Mali's President General Assimi Goïta officially inaugurated the Stage 1 Bougouni Lithium Project in southern Mali on Monday, marking a significant milestone for the West African nation's mining sector.
Located approximately 180km south of Bamako, the project is operated by Les Mines de Lithium de Bougouni SA (LMLB), a joint venture in which Kodal Minerals (AIM:KOD) holds a 49% stake, with Hainan Mining Co. Ltd owning the remainder. The Malian government maintains a direct 35% interest in LMLB.
The opening ceremony was attended by several government officials including Professor Amadou Keita, Mali's Minister of Mines, and General Ousmane Wele, Governor of the Bougouni Region, along with community leaders and media representatives.
Construction of the Dense Media Separation (DMS) processing plant began in mid-2024, with first production of high-grade lithium spodumene concentrate achieved in February 2025. The facility has produced over 45,000 tonnes of spodumene to date and targets annual production of 125,000 tonnes at an average grade of 5.5% Li2O.
The company recently completed its first transportation of spodumene product from the site to the Port of San Pedro in Côte d'Ivoire, with the first export shipment expected later this month. This shipment will trigger initial revenue for the operation.
Bernard Aylward, CEO of Kodal Minerals, noted that the project was delivered on time and within its US$65 million capital budget. The operation currently employs approximately 650 people, with 95% being Malian nationals.
Plans are underway for a Stage 2 Floatation plant, expected to commence operations in 2028, which would nearly double output to 230,000 tonnes per year.
According to the press release statement, the project represents a significant contribution to Mali's mining sector as the country develops its lithium resources.
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