Kodal Minerals PLC (LON:KOD) has been granted two new exploration licences covering 150 square kilometres of its Bougouni lithium project in Mali.
The AIM-listed explorer said the new licences covered lithium mineralisation and exploration prospects previously included in its former Madina licence area and will secure the project area for another seven years.
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The new licences will form the basis for Kodal’s application for a mining licence at the site, with company chief executive Bernard Aylward saying a mining and processing development plan is being finalised.
A mining licence application is to be lodged following approval of the company’s Environmental and Social Impact Assessment (ESIA) by the Malian government, which in a separate announcement it said is currently awaiting final signature from the country’s environment minister.
Kodal added that a bulk sample of lithium ore had cleared Chinese customs and is now being transported to a lithium concentrator plant in the town of Yishui for testing.