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Highlights
- 2025 Production Target: The Bougouni Lithium Project remains on track to begin production in Q1 2025, staying within the $65 million budget.
- Infrastructure Advancements: Major progress includes the commissioning of the first crushing circuit and the delivery of the power plant equipment to the site.
- Mining Operations: Over 150,000 tonnes of high-grade lithium ore have been mined at the Ngoualana deposit, with further exploration efforts underway at the Boumou deposit.
Kodal Minerals (LSE:KOD), a mineral exploration and development company, has announced significant progress on the construction and commissioning of its Stage 1 Dense Media Separation (DMS) processing plant and mining operations at the Ngoualana open-pit mine. This marks a key milestone for its flagship Bougouni Lithium Project in Southern Mali. The project is fully funded through a $117.5 million financing deal with Hainan Group, which holds a 51% stake in Kodal Mining UK Limited (KMUK), the project’s developer.
The Bougouni Lithium Project remains on schedule for production to commence in the first quarter of 2025. Kodal has confirmed that the project continues to operate within its $65 million capital development budget, underscoring its efficient financial management.
Construction activities at the site are progressing steadily. This week saw the commissioning of the first of two crushing circuits, with a successful initial test conducted on waste rock. Installation of the second crusher module is nearing completion and is expected to be operational within weeks. Meanwhile, construction of key infrastructure, including the steel framework for the main DMS, screening, and filtration buildings, is substantially complete, with efforts now focused on electrical cabling, motor terminations, and piping installations.
The motor control center (MCC) cabinets have been installed, and the connection of equipment to the MCC is underway. Additionally, the power plant and its associated transformers and switchgear have been delivered to the site from Abidjan, Côte d’Ivoire. Installation of the power plant is set to begin next week, marking another step toward full operational readiness.
On the mining front, open-pit operations at the Ngoualana deposit have advanced significantly. Over 150,000 tonnes of ore, averaging a lithium grade of 1.17% Li₂O, have already been extracted in preparation for plant commissioning.
Kodal’s exploration team is also preparing an in-fill and extension drilling program at the Boumou deposit to enhance drill density. The data from this program will be used to update the JORC-compliant mineral resource estimate. Metallurgical samples have been collected to confirm lithium recovery efficiency using DMS and flotation processing techniques.
CEO Bernard Aylward commented, "We are pleased with the rapid progress at Bougouni, particularly with construction and mining advancing in parallel. This project continues to be a transformative opportunity for Kodal, and we are fully focused on delivering first production on schedule and within budget."
