Kodal Minerals, a London-listed company, has reassured stakeholders that its lithium project in Mali will not be impacted by recent legislation granting the state a larger share of the nation’s mining assets.
The new law, signed by Mali’s military leader, Assimi Goita, on August 29, increases the government’s stake to 20% and allocates an additional 5% of shares to “national investors.”
Notably, this updated law does not apply to well-established gold operations dominating Mali’s mining sector, such as Barrick Gold Corp.’s Loulo-Gounkoto and B2Gold’s Fekola assets.
Kodal’s license for the Bougouni lithium project will continue to be governed by the previous regulations, as confirmed by Mali’s National Directorate of Geology and Mines.
