Business
Mining Licence Transfer and Project Update
Mining Licence Transfer and Project Update.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\")\nKodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n4 April 2025\nKodal Minerals plc\n(\"Kodal Minerals\", \"Kodal\" or the \"Company\")\n \nUpdate on Mining Licence Transfer and Project Update\n \nKodal Minerals, the mineral exploration and development company, is pleased to provide an update in relation to activities at the Bougouni Lithium Project, located in Southern Mali (\"Bougouni\" or the \"Project\"), including the status of the Mining Licence transfer and the ramp up of production. Construction of Bougouni is near completion, and the Project achieved first lithium spodumene concentrate product in February 2025 (as announced by the Company on 11 February 2025). The Project is owned and operated by Kodal Mining (UK) Ltd (\"KMUK\") in which Kodal has a 49% interest.\n \nHighlights:\n· The Bougouni Lithium Mine Dense Media Separation (\"DMS\") processing plant has produced over 11,000 tonnes of spodumene concentrate to date and is ramping up towards commercial production.\n· For the last week of March 2025, the DMS processing plant processed a total of 13,400 tonnes of material, producing 1,920 tonnes of spodumene concentrate grading 5.63% Li2O.\n· Export of the spodumene content to the Port of Abidjan in Côte d'Ivoire and then to China is expected to occur as soon as possible when the Bougouni Mining Licence is transferred and the associated permit for export of product is received from the Government.\n· Transfer of the Mining Licence from Future Minerals SARL to the Mali registered mining company Les Mines de Lithium de Bougouni SA (\"LMLB\") is progressing, with all updates to LMLB's company structure complete and signed off by the relevant Mali Government ministers. The Mining Licence transfer application is awaiting final approval and signing by the President of Mali, Assimi Goïta.\n· Due to the delay in transferring the Mining Licence, KMUK has formally requested an extension of time for the second payment of US$7.5m to the State of Mali (the \"State\"), as specified in the binding Memorandum of Understanding (as ou...