Kodal Minerals to be West Africa’s first London-listed lithium miner

Kodal Minerals is set to become West Africa’s first London-listed lithium producer through its Bougouni lithium project in Mali. The project signifies a major step forward for the region’s mining industry, with spodumene production aimed to meet the increasing global demand for lithium, a crucial component for electric vehicle (EV) batteries. Bougouni’s development is particularly significant as it marks Mali’s entry into the fast-growing battery metals market, supporting global green energy initiatives.

Located in southern Mali, the Bougouni lithium project is poised to deliver high-grade spodumene concentrate by late 2024. With a projected production of over 200,000 tonnes annually, the project is expected to make a substantial impact on global lithium supplies. This will not only diversify Mali’s economy, traditionally dependent on gold but also position the country as a critical player in the electric vehicle and green energy supply chain. Kodal Minerals has already begun earthworks and equipment deliveries, marking significant progress in its journey towards full-scale production.

Securing Funding: $117.75 Million Investment and Ownership Transfer

Kodal Minerals secured $117.75 million in funding, bolstered by a partnership with Hainan Mining, which facilitated the ownership transfer to Kodal Mining UK. This funding will support the development of infrastructure and logistics, essential for meeting production targets by late 2024. The investment further underscores the growing global interest in securing key minerals for battery production. With these resources, Kodal Minerals is well-positioned to become a significant player in the global lithium market.

Global Lithium Market Outlook and Africa’s Role

As demand for lithium continues to soar, largely driven by the global shift toward electric vehicles, the Bougouni project is poised to contribute significantly to the global supply chain. Africa’s role as a lithium supplier is growing, and Kodal Minerals is at the forefront of this movement. With the continent’s rich deposits and increasing exploration activities, West Africa is becoming a strategic hub for battery metals. Kodal’s operation reflects Africa’s potential to become a key supplier in the global green energy transition.

Kodal Minerals has ambitions beyond lithium, with active exploration for gold and other minerals in West Africa. This diversification strategy will ensure long-term sustainability and growth for the company. In Mali, Kodal’s additional projects will support local economies, creating jobs and fostering infrastructure development. As a key player in both lithium and gold exploration, Kodal Minerals is positioning itself as a major contributor to Africa’s mineral wealth while aiding the global push towards sustainable energy.

Sources:

• Mining
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