Kodal Minerals PLC (AIM:KOD) this week outlined strong operational momentum at its Bougouni Lithium Project, supported by record monthly production and rising lithium prices, CEO Bernard Aylward told Proactive.
Aylward reported that March marked a standout period for the company, with production reaching 10,900 tonnes of concentrate, reflecting improved performance across mining, processing, and logistics. He said the operation had “performed well,” with recent improvements beginning to translate into higher output and smoother execution.
The company is now focused on achieving steady-state production, targeting consistent exports every six to eight weeks, with shipments of 15,000 to 20,000 tonnes via the port of San Pedro in Côte d’Ivoire. Aylward indicated that maintaining this rhythm would be a key operational milestone, particularly as the wet season approaches. Preparations are already advanced, including stockpiling ore and ensuring access to mining areas through infrastructure and drainage work.
Looking further ahead, Kodal Minerals is progressing plans for a phase two flotation plant, which Aylward described as central to the long-term development of Bougouni. He stated that the expansion could support a mine life in excess of 14 years, drawing on resources from the Boumou and Sogola-Baoulé prospects, alongside additional exploration potential.
Here, we take a closer look at what was said when Bernard joined the studio.
Proactive: Bernard, very good to speak with you. The project's had a strong start to the year with record production in March. Could you quickly summarize the key operational highlights and successes from the past quarter at Bougouni?
Bernard Aylward: So, sure, good morning Stephen, yes I think that's fair to say. We have had a good start to the year. March was very good for us, and the operation performed well. We've been able to produce 10,900 tonnes of concentrate in March, and April is looking good as well. A few hiccups, normal with mining operations. Our team is on to it. We made improvements during the quarter and are seeing that in the March performance. Mining, processing, export trucking, and shipping are all going as planned.
Proactive: What are the key operational priorities for the Bougouni project in the coming quarter, especially as you prepare for the wet season?
Bernard Aylward: One key priority is to become a steady-state producer to meet targets and export every month. The shipping plan is every six weeks to two months, with shipments of 15,000 to 20,000 tonnes from San Pedro port in Côte d’Ivoire. With the wet season coming, we need enough stock on the ROM pad, exposed ore in the pit, and proper dewatering and road access. Preparations are well advanced.
Proactive: Beyond current operations, the release mentions a phase two flotation plant. Could you elaborate on this expansion?
Bernard Aylward: This is key to the long-term development of Bougouni. We see the flotation plant supporting a mine life of more than 14 years, extracting from Boumou and Sogola-Baoulé prospects, with further exploration upside. We have a significant work program including drilling, geotechnical and metallurgical assessments, and engineering.
Proactive: The announcement mentions revenues of over $51 million. How is the operation benefiting from lithium market strength?
Bernard Aylward: Lithium prices have risen strongly since we began exporting. Our first shipment left in November and arrived in January, with prices increasing since. Our pricing structure ensures cost coverage, and we are now seeing the full benefit of higher prices. Future exports will also benefit.
Proactive: Where does Kodal fit in the global push for critical materials?
Bernard Aylward: We are producing a commodity in high demand, with demand outstripping supply. Our partner is taking everything we deliver, and EV growth continues to drive demand.