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
The first truckloads of lithium spodumene concentrate have left the Bougouni project, with the final loads completing customs formalities before being transported to the Côte d’Ivoire Port of San Pedro.

The Bougouni operation team’s focus is to transport Kodal’s 30 000 t of spodumene concentrate to port for the first export to Hainan, in China.

The transport process is expected to take between four and six weeks, and the team will continue transporting the full 45 000 t stockpile to ensure a stockpile of material is available at the San Pedro port for further product shipping thereafter.

“Following the successful construction of the DMS plant and processing of ore from the Ngoualana openpit, we are now in a position to consistently manage the exporting of Bougouni’s spodumene concentrate,” Kodal Minerals CEO Bernard Aylward has said.

The first shipment of spodumene concentrate is planned to be 30 000 t, with first revenue expected upon completion of loading of the vessel in the San Pedro port as agreed in the offtake agreement, he has explained. Further updates on the Bougouni operation and export will be provided as developments continue.

Key Contracts, Suppliers and Consultants
None stated.

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