Kodal Minerals PLC CEO Bernard Aylward talked with Proactive's Stephen Gunnion about the latest developments at the Bougouni lithium project in Mali. Aylward outlined a key funding milestone, confirming that a subsidiary of Hainan Mining has provided a loan agreement of up to $15 million. He explained, “We have over 20,000 tonnes produced on site now, so that’s at least two months’ worth of shipments.”
The funds have enabled Kodal Minerals to finalise payment under its Memorandum of Understanding, following a one-month extension granted by the government. This payment marks a crucial step toward meeting the export threshold for lithium concentrate. Aylward noted that the transfer of the mining license is already complete, and negotiations with the government are progressing well.
Operationally, Aylward reported that the ramp-up of the dense media separation (DMS) plant continues, with improvements to both the crushing circuit and plant feed. He highlighted that the value of the spodumene stockpile on site now exceeds the value of the loan facility, reinforcing the company’s prudent financial approach.
Strong engagement with both local and national authorities also continues, with recent meetings held with Mali’s mining authorities. The company is now in the final stages of securing export permits and has awarded a transport contract to a local provider, reinforcing its commitment to local content participation.
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