By Jamie Ashcroft
Kodal Minerals PLC (AIM:KOD) shares advanced on Thursday after it announced it had received an export permit for spodumene concentrate from the Bougouni lithium project in southern Mali.
The permit covers 125,000 tonnes of concentrate, subject to final administrative steps.
“The granting of the export license is a critical step for the development of the Bougouni project as well as Mali’s burgeoning spodumene industry,” said chief executive Bernard Aylward.
“The permit further underpins the continued support of the Mali Ministry of Mines and the Government and their interest in the further development and expansion of Bougouni.”
Trucking mobilisation will begin once administrative steps are completed, the company said.
The export permit approval was authorised by the Ministry of Mines and signed by Minister Amadou Keita.
In London, Kodal shares were up just over 10% changing hands at 0.39p.