Aim-listed Kodal Minerals has announced the official opening of the Stage 1 Bougouni lithium project, in southern Mali, by Mali President General Assimi Goïta in a ceremony held on November 3.

The official opening of the Stage 1 dense media separation (DMS) processing plant at the Bougouni project was hosted by General Ousmane Wele, governor of the Bougouni region, who welcomed government dignitaries including Goïta and Mines Minister Professor Amadou Keita.

Wele also welcomed community leaders, including the village chief of Ngoulana and national and local media.

To celebrate the official opening of the Bougouni project, located about 180 km south of the capital Bamako, the ceremony included speeches from Keita and Kodal Mining UK (KMUK) chairperson and Hainan Mining CEO David Teng, who is also a director of Kodal.

The Bougouni project is operated by locally-registered mining company Les Mines de Lithium de Bougouni (LMLB).

LMLB is a subsidiary of KMUK, in which Kodal has a 49% shareholding and Hainan the balance. The Malian government holds a direct 35% stake in LMLB.

Construction on the Bougouni project began in mid-2024, with the first production of high-grade lithium spodumene concentrate at grades of 5.53% lithium oxide (Li₂O) recorded in February this year during the plant commissioning phase. The project has produced over 45 000 t of spodumene to date.

Targeted yearly production at the Bougouni project is 125 000 t at an average grade of 5.5% Li₂O.

The Stage 1 DMS processes coarse-grained spodumene material from the Ngoualana mine, feeding up to one-million tonnes a year of lithium ore into the DMS processing plant using a conventional circuit to maximise spodumene recovery.

The company recently began and successfully completed transportation of the first spodumene product from site to the Port of San Pedro in Côte d'Ivoire, which will subsequently be exported to its partner and offtaker Hainan’s refinery in China.

Kodal says departure of the first export shipment, expected to occur later in November, will trigger payment and first revenues to LMLB.

Kodal CEO Bernard Aylward remarked that, in partnership with Hainan, the Bougouni operations team has delivered its flagship critical minerals project, both on time and within its $65-million capital budget.

“This is no small achievement, and I want to give a heartfelt thanks to Steve Zaninovich, Kodal’s operations director and Jerry Gao, Hainan VP of operations, who have led our dedicated 650-strong team of employees, 95% of whom are Malian nationals – a number we can be extremely proud of,” said Aylward.

He noted that the project would deliver direct and indirect benefits to not only the local community at Bougouni, but also nationally to the wider Malian economy.

“It was very pleasing to see the happiness of our team at the opening and the recognition of this achievement.

“I also want to offer our thanks to President Goïta, Professor Amadou Keita and General Wele, whose steadfast support has helped us advance and complete the first stage of the Bougouni project,” he said.

“Lithium is still a relatively new commodity in Mali and with a production target of 125 000 t/y for Stage 1, I look forward to our Bougouni project significantly contributing to the national output of the country’s ‘white gold’, with further plans to almost double output for Stage 2, which is currently in the planning phase.”