Kodal Minerals PLC (AIM:KOD), a mineral exploration and development company, has achieved major milestones at its Bougouni lithium project in southern Mali. According to CEO Bernard Aylward, the project has seen substantial progress following the completion of a transaction last November, ensuring full funding for Phase One development, exploration, and further advancements.
The integration of teams from Kodal Minerals and their joint venture partner, Hainan Mining, has led to engineering improvements for better recovery and optimization of the project. Work on Dense Media Separation (DMS) units and the crushing circuit has commenced, with mining contractors expected to mobilize soon. The initial focus will be on civil work, including site preparation and clearing, to ready the operation for commissioning in late October or November, with the aim of achieving full production by the end of the year.
Phase One of the project involves a quick development process with a capital expenditure of $65 million. Phase Two aims to extend the mine life to 10-15 years, increasing production to over 370,000 tonnes per annum by adding a flotation plant for processing ore from additional prospects. Aylward highlighted that the project enjoys support from the Malian government and local communities, with the Environment Minister visiting the site and expressing satisfaction. The company’s progress at the Bougouni lithium project is a significant development in the global lithium industry.
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