Kodal Minerals Maintains Strong Lithium Exports as Bougouni Project Remains Unaffected by Mali Unrest
Aim-listed Kodal Minerals has confirmed that its Bougouni lithium project in Mali continues to operate normally despite recent security incidents and unrest in parts of the country.
In a statement issued on May 5, CEO Bernard Aylward said the safety of personnel at the site remains a top priority.
He noted that the township of Bougouni has not been affected by the unrest and that operations remain stable.
“The project team, mining contractors, and support staff continue to receive strong backing from security services and local authorities, and their safety remains our highest priority,” Aylward said.
He added that mining and logistics activities continue without disruption, including regular deliveries of fuel and spare parts.
Export operations of spodumene concentrate through the Port of San Pedro also remain on schedule.
Kodal further reported that payment for its second shipment of spodumene concentrate to Hainan Mining has been received in full.
The shipment, delivered by Les Mines de Lithium de Bougouni (LMLB), generated a total payment of $27.6 million following confirmation of grade, tonnage, and moisture content.
The second cargo comprised approximately 19,738 dry metric tonnes (dmt) of spodumene concentrate, priced at an average of $1,681.30 per tonne based on 6% lithium dioxide equivalent content.
The third shipment, containing around 20,480 dmt of spodumene concentrate, departed the Port of San Pedro in Côte d’Ivoire on April 12 and is currently en route to Hainan.
LMLB has already received an interim payment of $34.4 million, representing 95% of the estimated shipment value, adjusted for grade, logistics, and insurance.
Arrival of the shipment in Hainan is expected in July, at which point final pricing and payment calculations will be completed.
Kodal stated that the Bougouni project continues active mining and processing operations, with ongoing transport of spodumene concentrate to the export port in preparation for future shipments.
Aylward highlighted that the latest payments reflect strengthening lithium prices and growing global demand. He noted that the operation has now generated approximately $89 million in revenue from its first three shipments, with future exports expected at regular intervals of up to 20,000 dmt per cargo.
Kodal maintains its 49% interest in Kodal Mining UK (KMUK), its joint venture with Hainan Mining, which holds a 51% controlling stake.
KMUK, in turn, owns a 65% interest in LMLB, the company responsible for developing and operating the Bougouni project in partnership with the Government of Mali.
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