Kodal and Mali
Mali: A top 10 country for lithium reserves
Mali and West Africa has a long and successful history of developing resource projects and is quickly becoming an attractive destination for lithium exploration and development. Regional studies completed by CSA Global in 2008 identified high-grade lithium bearing pegmatites within the Bougouni-Sikasso region and in Q1 2020, Kodal lodged a Mining Licence application with the Malian Government, which was approved in November 2021.
Bougouni located in Southern Mali
A highly productive mining region
Kodal’s Bougouni Lithium Project is located in Southern Mali – 170km south of the capital, Bamako.
The region is home to numerous established mining operations including:
• Hummingbird’s Yanfolila Mine; ~100km west
• Firefinch’s Morila Mine (prev. Randgold); ~100km east
• Resolute’s Syama Mine; ~200km south-east
• B2Gold’s Fekola Mine; ~300km west
• Ganfeng’s Goulamina Lithium Project ~ 40km west
Lithium Projects in West Africa
| Company | Project | Estimated Production Date |
|---|---|---|
| Kodal Minerals | Bougouni Lithium Project, Mali | Q1 2025 |
| Ganfeng Lithium | Goulamina Project, Mali | Q3 2024 |
| Atlantic Lithium | Ewoyaa Project, Ghana | 2025 |
| First Lithium | Faraba and Gouna, Mali | N/A |
Strong relations with the Malian Government
Kodal Minerals enjoys excellent relations with the Malian government having operated in the country since 2016 and our management team has hosted members of the government at Bougouni on numerous occasions. Bougouni Stage 1 (DMS) is fully permitted, including environmental, construction and social permits, granted under Mali Mining Code 2019 for entire Bougouni licence concession – 97 km². The Malian government at national, local and regional all are strongly supportive of the Bougouni Project, which is currently one of the country’s nearest term lithium projects.
As part of the Phase 1 DMS environmental approval update process, the Company submitted an update of the ESIA (environmental and social impact assessment) report in early October 2023 to the Mali Environmental Department; Direction National de l’Assainissement et du Controle des Pollutions et des Nuisance (DNACPN).
Following negotiation with the DNACPN, this official submission was requested in the form of a “Notice d’Impacts Environmental et Social” (NEIS). The NEIS updated the ESIA highlighting some minor adjustments required for the Phase 1 DMS Project, separate from the original ESIA submission, which focussed on the flotation pathway that will now be developed as a Phase 2 expansion, expected to commence development in 2025/26.
In early 2024, Malian Minister for Environment, Professor Tiémoko Sangaré, visited Bougouni and endorsed the Company’s development programme and construction of the DMS processing site.
Malian Mining Code
In November 2024, KMUK and the State of Mali entered into a binding MoU to finalise the transfer of the Project mining licence to the established mining company Les Mines de Lithium de Bougouni SA and the migration over to the 2023 Mining Code of Mali
Key facts on Bougouni Lithium Project’s licence / tax regime
- An initial 10 year term and the State undertakes to renew the licence as required with the conditions laid down in the mining code in force on the date of such renewal.
- All permitting completed: environmental, production, construction and mining permits
- Permits granted under Mali Mining Code 2019 for entire Bougouni licence concession – 97 km²
- Mali Government and national private investor interest will hold a total of 35% of the equity in the mining company LMLB
- The continuation of the customs and duties exemptions during the construction phase as well as confirming that the State will grant all necessary permits for operation including export permits for the spodumene product
- Upon completion of transfer of the mining licence the MoU confirms that the Bougouni mining licence will be in full compliance with all legal requirements and in good standing
- Strong support for Bougouni from local, regional and national administrations
