Kodal Minerals PLC (AIM:KOD) told investors that construction work at the Bougouni lithium project, in Mali, is nearing completion.
At the same time, the ramp-up of mining and processing is well underway – following first concentrate production in February.
Over 11,000 tonnes of spodumene concentrate have now been produced at the project’s Dense Media Separation plant.
Last week alone, the plant processed 13,400 tonnes of material and produced 1,920 tonnes of spodumene concentrate, grading 5.63% Li₂O.
Kodal noted that a stockpile equivalent to the first month of expected output has now been created.
“The ramp-up and optimisation of the Project and DMS processing plant is progressing and, positively, we are seeing ongoing improvements through the modifications and adjustments to the DMS processing plant as advancements continue,” chief executive Bernard Aylward said in a statement.
“We are continuing to increase the stockpile, which provides confidence in the ability of the operation to meet the proposed production schedule of 11,000 tonnes of concentrate per month."
Once the project’s mining licence is transferred to its Mali subsidiary, Les Mines de Lithium de Bougouni SA, it will export the product via the Port of Abidjan.
Presently, it is awaiting final approval and signature from the President of Mali. Due to the delay, Kodal has requested a time extension for a US$7.5 million payment to the State of Mali.