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
All permitting for the Bougouni Project was granted under Mali Mining Code 2019 for entire Bougouni licence concession, which covers an area of 97 km².
Key facts on Bougouni Lithium Project’s licence / tax regime
- 12-year mining licence with option to increase in 10-year phases until end of LOM
- 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 has 10% free carry with option to purchase additional 10%
- Corporate Tax rate 25% for first 3 years, up to 30% thereafter; Royalty 3%
- Strong support for Bougouni from local, regional and national administrations
- Our Bougouni Project is unaffected by Mali's recent revision of its mining code published by the Republic of Mali in September 2023.
