Kodal Minerals PLC (AIM:KOD) has said it expects to apply for formal government approval early next year to construct its dense media separation (DMS) processing plant at its Bougouni lithium project in southern Mali.
After completing concept designs and the tailings storage layout and concept design, the company said it is finalising engineering and environmental work to support formal approval for the DMS option from the Mali government.
Kodal said it is committed to accelerating the development of the project to allow the company to take advantage of a near-term buoyant lithium market.
The company also said it has appointed Canaccord Genuity (TSX:CF, LSE:CF) as joint broker with immediate effect.
Kodal Minerals chief executive Bernard Aylward hailed the progress by the engineering team to begin the fast-track DMS development.
"The recent decision by the Mali Ministry of Mines to suspend the issuance of new mining permits does not impact the company's development progress. Engineering activities have therefore continued to progress in parallel with the company's ongoing negotiations with potential financing partners," he said in a statement
He noted that to support the company's fast-track development timeline, the company has re-appointed exploration manager George Michaelides, who was responsible for the company's initial exploration and drilling programmes at Bougouni, from which the 21.3 million tonne (Mt) resource was defined.
"George will be tasked with expanding our resource base with the objective of extending the life of mine," Aylward said.