Kodal Minerals PLC (AIM:KOD) said it has pushed the first lithium production from its Dense Media Separation (DMS) processing plant at Bougouni in Mali into 2025 after recent heavy rainfall.
The project remains within its US$65 million project development budget despite the minor schedule delays, Kodal added.
Bernard Aylward, Kodal’s chief executive, said: “The development of the Bougouni Lithium Project by KMUK continues to gain momentum, with the recent delivery of the DMS and crushing circuit equipment to the site.
“Positively, the open pit mining is continuing ahead of schedule and a stockpile of ore is being built well in advance of the commissioning of the processing circuit.
“However, the cumulative effect of heavy rainfall coupled with delays in shipping and transport to the site had led to the prudent decision taken by management to advise of a potential delay in first production by a small number weeks to early first quarter 2025.”
“The new 2023 Mining Code is now fully established in Mali and discussions with the Government to review the potential for migration of the Bougouni project to the new 2023 Mining Code are ongoing, with a view to completion next month.”