Kodal Minerals, the mineral exploration and development company, is pleased to announce that the export permit for the spodumene concentrate produced at the Bougouni Lithium Project (“Bougouni” or the “Project”) in Southern Mali has been received. The Project is operated by the local Mali registered mining company, Les Mines de Lithium de Bougouni SA (“LMLB”) (a subsidiary of Kodal Mining UK Limited (“KMUK”), in which Kodal has a 49 per cent. shareholding).
The letter was authorised by the Ministry of Mines and signed by the Minister of Mines, Professor Amadou Keita. The export permit is approved for an initial 125,000 tonnes of spodumene concentrate subject to the continuation of final administrative steps for the export process.
The letter specifies:
Confirmation of the pricing mechanism based on the Shanghai Metal Market (SMM) reference price for spodumene, without prejudice to the administration’s right to verify and correct prices.
- Granting of the transportation contract directly to Malian transport companies in accordance with the provisions of Law No. 2023-04 l of August 29, 2023, related to local content in the mining sector.
- Payment of taxes, duties, and levies stipulated by the applicable regulations.
The Company can confirm that the Off-Take Agreement finalised for the Project utilises the SMM as the reference for pricing. In addition the Project has signed a transport contract with a leading Malian transport company for the export of material from site to the port location in Côte d’Ivoire.
All taxes, duties and levies will be paid when due.
Bernard Aylward, CEO of Kodal Minerals, remarked:
“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. 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.”
“Final administrative processes will be completed imminently and the mobilisation of the trucking fleet to site will commence as soon as possible.”