Kodal Minerals (LSE: KOD) has dispatched the first truckloads of lithium spodumene concentrate from its Bougouni mine in southern Mali to the port of San Pedro in Côte d’Ivoire, marking the start of its exports.
The team at Bougouni mine, which began production in February, has sent 30,000 tonnes of spodumene concentrate from its stockpile for shipment to Hainan, China.
The full 45,000-tonne stockpile will be gradually moved over the next four to six weeks to maintain supply at the San Pedro port for future exports.
“This is a major milestone for the Bougouni project,” CEO Bernard Aylward said. “With the first truckloads of spodumene concentrate departing site for export,…the construction of the dense media separation plant and processing of ore from the Ngoualana open pit, we are now in a position to consistently manage the exporting of spodumene concentrate”.
Offtake
The company expects to generate its first revenue once loading of the initial 30,000-tonne shipment is complete, in line with its offtake agreement. Kodal plans to provide further updates as operations progress.
Bougouni is located 170 km south of Mali’s capital, Bamako, in a region home to several active mines, including Hummingbird Resources’ (US-OTC: HUMRF) Yanfolila gold mine and B2Gold’s (TSX: BTO; NYSE-A: BTG) Fekola operation.
Shares in Kodal Minerals gained 10% on Monday to 0.32 pence in London on Monday before easing to 0.31 pence on Tuesday afternoon.
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