The mining licence for the Bougouni lithium project in southern Mali has officially been transferred to Les Mines de Lithium de Bougouni (LMLB), a subsidiary of London-listed Kodal Mining UK. This follows approval of the transfer of the Foulaboula exploitation permit, which is the central licence for the project.
The transfer was from Future Minerals to LMLB and is effective immediately. It confirms that the licence remains valid and in good legal standing. Kodal Mining UK operates the project, while Kodal itself holds a 49% stake in the company.
The transfer comes at a key moment for the Bougouni project, which has already achieved its first production of lithium spodumene concentrate as of February. Construction is nearing completion, and preparations are ongoing for the start of exports. The company stated that exports are expected to begin in the next quarter, pending finalisation of the necessary export permits.
Authorities in Mali have also approved and finalised all required compliance steps for the inclusion of the government as a shareholder in LMLB. This approval was completed before the licence transfer received the green light.
The Bougouni lithium project is fully funded and considered Kodal Mining UK’s flagship operation. The site is located in Mali’s Sikasso region in the southern part of the country, an area that has become a focus for international lithium exploration due to its geological potential. The project’s development has progressed over the past year, with infrastructure construction advancing and processing facilities brought online. The milestone of producing first concentrate marked a shift from development to operational readiness.
Kodal Mining UK has not released further details on volumes or timelines for lithium shipments but indicated that discussions around export permitting are active and close to completion. The Bougouni project has drawn attention within the mining sector due to its strategic importance in the global lithium supply chain, particularly as demand for battery minerals continues to grow. The confirmation of the licence transfer removes a significant procedural step in the project’s development and clears the way for initial commercial operations to begin soon.
The government of Mali’s participation as a shareholder reflects the country’s broader approach to mining partnerships, aiming for direct involvement in large-scale projects. This inclusion was a required element before the mining licence could be transferred. With the permitting process in its final stages and physical infrastructure nearing full operational status, the Bougouni lithium project appears on track to enter the next phase of production and export in the coming months.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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