Hainan Mining Co., Ltd. announced that the delivery of the investment

Published: Nov 15, 2023 19:11

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Hainan Mining Co., Ltd. announced that the delivery of the investment projects of its wholly-owned subsidiary Xinmao Investment in Kodal Minerals PLC (hereinafter referred to as "KOD") and Kodal Mining UK (hereinafter referred to as "KMUK") has been completed. The Company will actively promote the development of Bougouni Lithium Mine with its partner KOD, and plans to start the construction of a 1.4 million tons/year beneficiation production line within this year, with an estimated construction period of 12 months. After the completion and commissioning of the production line, it is expected to produce 100,000-120,000 tons of lithium concentrate with a grade of more than 5.5% per year. The estimated mineral resources of Mali Bougouni Lithium Mine under JORC criteria within the mining rights owned by KMUK is 319 million tons, with an average grade of 1.06% of lithium oxide.

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