The Bougouni Project covers an area of 350km2 and is located approximately 180km south of Bamako, the capital of Mali, and benefits from established infrastructure via a sealed road from Bamako. Bougouni has the potential to host multiple open pit lithium mining operations and a Mining Licence was granted in Q4 2021 ahead of planned mine development. Kodal is now planning the construction phase of the project and is confident of achieving support to finance the project, which has the potential to be the first lithium mine in Mali.
The company released a feasibility update in June 2022, the updated review of the flagship project highlights the robust development opportunity our Bougouni Lithium presents, alongside the current buoyant market conditions for lithium spodumene concentrate. The review reflects the current high and future demand for battery minerals and recognises a supply deficit.