[Kodal Minerals Signs Offtake Agreement for the Bougouni Lithium Project]

Published: Jul 6, 2025 20:15

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Kodal Minerals PLC announced that it has signed an off-take agreement with Hainan Mining Co., Ltd. for spodumene concentrates from the DMS processing plant in the first phase of the Bougouni lithium project (located in southern Mali). The agreement, spanning four years, will see Hainan Mining become the exclusive buyer of products from the DMS processing plant, with annual reviews of sales volumes and floor prices. Currently, the DMS processing plant has produced over 40,000 mt of spodumene concentrates and is collaborating with the Malian government to fulfill the final requirements for export licenses to achieve its first sales. The first phase of the Bougouni project includes a beneficiation production line with an annual capacity of 1.4 million mt, expected to produce 100,000 to 120,000 mt of lithium concentrates annually, with lithium oxide content exceeding 5.5%. Bernard Aylward, CEO of Kodal Minerals, stated that the off-take agreement confirms the sales conditions and pricing mechanism, with LMLB receiving 95% of the payment upon loading at the export port, providing confidence in the project's cash flow and commercial production.

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