Kodal Minerals Secures Funding for Bougouni Lithium Project

Kodal Minerals Secures Funding for Bougouni Lithium Project

Comprehensive Funding for Lithium Project

Kodal Minerals has secured a substantial investment for its Bougouni Lithium Project in Mali. The total funding of US$117.75 million, provided by Hainan Mining Co. Limited and Xinmao Investment Co. Limited, is set to cover the full development and initial production at the Bougouni site. This project, covering 97 km², boasts an estimated 31.9 million tonnes of lithium oxide with a 1.06% concentration, planned for a two-stage development process, starting with the Ngoualana deposit.

Hainan Mining’s investment includes a US$17.75 million equity subscription in Kodal, translating to a 14.72% ownership stake. An additional US$100 million investment into Kodal’s subsidiary, Kodal Mining UK Limited, is allocated for the operational costs of the lithium production at Bougouni.

Operational Strategy and Exploration Prospects

The initial phase of the project involves setting up a Dense Media Separation (DMS) plant, followed by further operational stages. Kodal Minerals also plans to conduct extensive exploration activities, including drilling at the Boumou prospect and other identified pegmatite regions within the license area, aimed at expanding the resource base and increasing production capabilities.

Fostering Growth and Investor Relations

Kodal Minerals is actively engaging with investors, having recently conducted a presentation to elaborate on the funding transaction and its strategic implications. These efforts are part of Kodal’s commitment to grow as a significant entity in the lithium production market and to enhance its long-term operational success and efficiency.

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