The Bougouni lithium mine project has shown good development momentum in the near future.
Kodal Minerals, a West African lithium producer, mineral exploration and development company, now provides an update on mining, processing, export and development activities at the Bougouni lithium project as of this quarter.
Kodal through its Kodal Mining UK
Limited (“KMUK”), and cooperates with Hainan Mining Co., Ltd. (“Hainan Mining”) to continue to participate in and hold interests in the Bougouni project.
Hainan Mining has ultimate control as a 51% shareholder.
KMUK holds a 65% stake in the project operating subsidiary Les Mines de Lithium de Bougouni SA (“LMLB”). LMLB jointly owns the project with the Malian government. At the same time, KMUK is responsible for the management supervision and operational control of the mining activities in the Bougouni mining area.
The project has many highlights this quarter.
Produced 26,981 tons of spodumene concentrate with a grade of 5.28% Li₂O.
Among them, the output in March exceeded 10,900 tons with a grade of 5.28% Li₂O, setting a record for the highest monthly output of the Bougouni project to date.
After completing two batches of cargo and sending them to Hainan Mining, the Bougouni project has exported a total of approximately 49,000 tons of spodumene concentrate.
So far, LMLB has achieved revenue of more than US$51 million, and the final settlement of the second batch of goods has yet to be completed.
The Ngoualana open pit mine is being mined on budget and the on-site team is focused on continuous improvement with additional mining equipment arriving on site.
In addition, Bougouni project operations continue to pay attention to health, safety and environment (HSE), and no lost time incidents (LTI) or incidents requiring medical treatment (MTI) were reported during the quarter.
There are also new developments after the quarterly report.
The third batch of approximately 20,000 tons of spodumene concentrate was shipped from the port of San Pedro, Cote d’Ivoire on April 12.
LMLB will issue a temporary invoice based on 95% of the value of the goods in accordance with the offtake agreement. The full settlement of the goods will be implemented after the goods arrive at Hainan Mining and the inspection is completed.
“The Bougouni team continues to focus on operational improvements, carrying out maintenance and modifications to the heavy media mineral processing (DMS) treatment plant and crushing circuit, aiming to improve equipment availability and utilization, and increase throughput. The open pit mine is also continuing to improve blasting effects and access conditions to the crushed ore stockpile. During the quarter, the mining team continued to strip waste rock to continue to expose the Ngoualana ore body. The open pit mine plan is preparing for the rainy season, including increasing ore reserves in the raw ore (ROM) stockpile, and
Add mine drainage pits, boreholes and transportation roads.
The Bougouni project is updating the feasibility study of the second phase of the flotation plant. The initial work is focused on engineering review, metallurgical testing, geotechnical engineering assessment and environmental planning.
The work plan is expected to be completed by the end of 2026, after which the investment decision of the second phase of the flotation plant will be reviewed.
Overall, the Bougouni lithium mine project has promising prospects and is expected to achieve better results in the future and bring more benefits to related companies.
