Our purpose and business model
Kodal aims to build a portfolio of battery metals assets in West Africa and become a significant player in critical minerals production across the highly prospective region of West Africa.
Bougouni Lithium Project
The Bougouni Lithium Project is Kodal’s flagship project located in Southern Mali, which is fully licenced and fully funded.
It is a two-step project with Stage 1 – Dense Media Separation (DMS) due to go into production in Q1 2025 until 2028 with a target output of 125,000 tonnes per annum Li2O spodumene concentrate. Stage 2 Bougouni will consist of a flotation plant, due to commence operations in 2028 until 2038 with a forecast output of 230ktpa Li2O.
The project currently has a life of mine of 10+ years based on its current Mineral Resource with limited drilling to date (28,000m).
Kodal is aiming to increase Bougouni’s current Mineral Resource to 50Mt via exploration drilling with the 2024 campaign currently underway and increase the life of mine accordingly.
Bougouni Stage 1 - Dense Media Separation (DMS) - 2024-2028
- c.125ktpa production from Ngoualana Pit
- Initial 4-yr Life of Mine
- Low capex US$60-70M
- Simple process
- Revenue forecast to exceed US$1.05 billion
- Targeting production of 5.5% Li2O spodumene concentrate
Bougouni Stage 1 DMS will include:
- Processing coarse-grained spodumene material from the Ngoualana deposit, feeding 1Mtpa of lithium ore to a DMS processing plant
- Utilising a conventional circuit to maximise spodumene recovery of over 130,000 tonnes per annum of spodumene concentrate
Kodal Mineral Group - Group Structure
Kodal Minerals announced in January 2023 a joint venture partnership with Hainan Mining, a subsidiary of the US$5bn Hong Kong-listed conglomerate Fosun International, to develop the Bougouni Lithium Project, which was finalised in November 2023.
