Name of the Project
Bougouni lithium project.

Location
Southern Mali.

Project Owner/s
Mineral exploration and development company Kodal Minerals.

Project Description
Bougouni’s mineral resource comprises three advanced prospects – Sogola-Baoulé, Ngoualana and Boumou.

Stage 1 of the project will include the processing of coarse-grained spodumene material from the Ngoualana deposit, feeding one-million tonnes a year of lithium ore to a dense-media separation (DMS) processing plant. A conventional circuit will be used to maximise spodumene recovery of more than 125 000 t/y of spodumene concentrate. 

Stage 1 will have an initial four-year life-of-mine (LoM).

Stage 2 will comprise a downstream 350 000 t/y flotation plant that will exploit the finer-grained spodumene resources at Sogola-Baoulé and Boumou, and Bougouni's longer-term exploration prospects. Processing material from Boumou and Sogola-Baoulé deposits will feed two-million tonnes a year of lithium ore to the flotation plant; output from the deposits is estimated at 230 000 t/y.

Stage 2 will have 12-year LoM.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Stage 1 involves low capital expenditure of $60-million to $70-million.

Stage 2 will cost about $175-million and will be funded with cash flow from Stage 1.

Planned Start/End Date
Kodal Minerals produced the first spodumene concentrate in February 2025.

Latest Developments
While Kodal Minerals continues to finalise the requirements for an export permit in Mali, large stockpiles of spodumene concentrate are mounting on site. Once granted, the export permit will allow for, inter alia, the transportation of the large stockpiles of spodumene concentrate to ports for shipment to China. The project team is advancing site preparations for first export and engagements with the ports of Abidjan and San Pedro, in Côte d’Ivoire, to ensure readiness for the first shipment.

In the interim, the company’s 49%-owned local subsidiary Les Mines de Lithium de Bougouni is progressing openpit mining and is processing at its Stage 1 DMS plant.

Kodal CEO Bernard Aylward has confirmed that improvements to the processing plant are ongoing and spodumene concentrate production currently exceeds 45 000 t of product available for export.

Openpit mining at Ngoualana has been impacted on by wet weather, with the lower levels of the pit not accessible, owing to excess water. Pumping is ongoing and access is expected to be restored. Mining is continuing with the removal of overburden and weathered material to the final pit outline. Mining operations have also been affected by delays in the delivery of explosives to the site, which was highlighted during the recent Ministerial visit, and is expected to be remedied soon to minimise delays, he has noted.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Kodal Minerals, tel +44 20 3463 2260.