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Kodal Minerals awarded mining permit for Bougouni

Published: 07:55 08 Nov 2021 GMT

Kodal Minerals PLC -

Kodal Minerals PLC (AIM:KOD) has been granted a mining licence for its flagship Bougouni lithium project in Mali.

The project is now fully permitted for development, as the environmental and social impact assessment was greenlighted in November 2019.

The Permis d'Exploitation is valid for an initial 12-year term and renewable in ten-year blocks until all resources have been mined.

As a next step, Kodal has commenced a programme of work to update the feasibility study announced in January 2020, ahead of securing funding for mine development and construction. 

Strongly rising prices for spodumene concentrate highlight the opportunity at Bougouni, with recent average pricing levels exceeding US$1,250 per tonne for 5% Li2O spodumene concentrate, compared with the initial US$680 per tonne for 6% Li2O spodumene concentrate used in the 2020 feasibility study.  

"The granting of the Mining Licence for Bougouni has come at a great time for Kodal with the increasing global focus on battery metals and the recognition of potential supply deficits highlighting the value of our fully permitted Bougouni lithium project,” said Bernard Aylward, chief executive of Kodal Minerals.

"We announced our feasibility study in January 2020 and the programme of work we are currently undertaking will lead to an updated feasibility study that is expected to support a decision to mine. Our initial study highlighted very robust fundamentals, but the world of battery metals has shifted significantly in this time, and during 2021 alone, we have seen lithium prices and demand surge.”

Kodal Mineral reports significant progress at Bougouni lithium project in Mali

Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward joins Proactive's Stephen Gunnion with details of the latest milestones at the Bougouni lithium project in southern Mali. Aylward highlighted that the project has seen significant progress following the completion of a transaction last...

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