Kodal Minerals PLC (AIM:KOD) said its Bougouni lithium project in Mali delivered record monthly production in March, helping quarterly spodumene concentrate output reach 26,981 tonnes as the company pushes to steady operations and expand exports.
March production exceeded 10,900 tonnes, the highest monthly total yet recorded at Bougouni, after weaker January and February performances were hit by drilling, blasting and plant availability issues. The concentrate grade averaged 5.28% Li2O over the three months to 31 March 2026.
Kodal said extra drilling rigs and diggers have since been mobilised, while maintenance and conveyor belt replacements were carried out in the crushing circuit to lift reliability and throughput.
Following two completed shipments to Hainan, Bougouni has exported about 49,000 tonnes of spodumene concentrate and generated revenue of roughly US$51.3 million.
This includes full payment for the first cargo and a 95% interim payment for the second. A third shipment of about 20,000 tonnes left the port of San Pedro on 12 April, taking total exports since November 2025 to around 69,000 tonnes.
Kodal said the next operational focus is preparing for the wet season while advancing studies for a proposed Phase Two flotation plant. That work, including engineering review, metallurgical testing, geotechnical assessment and environmental planning, is expected to continue through 2026.
Additionally, chief executive Bernard Aylward added: "The Bougouni operation is working to update the Feasibility study for the Phase Two Floatation plant and initial work is focussed on engineering review, metallurgical testing, geotechnical assessment and environmental planning.
The work programme is expected to be completed by the end of 2026, and thereafter allowing for an investment decision of Phase Two to be reviewed."