Kodal Minerals and Mali Lithium sign MoU to develop projects in Mali

29 January 2020 (Last Updated January 29th, 2020 12:04)

Kodal Minerals has signed a memorandum of understanding (MoU) with Mali Lithium for the cooperation and investigation of synergies in the development of their respective projects.

Kodal Minerals has signed a memorandum of understanding (MoU) with Mali Lithium for the cooperation and investigation of synergies in the development of their respective projects.

Mali Lithium is developing the Goulaminia lithium project, which is located close to Kodal Mineral’s Bougouni lithium project.

Under the MoU, the two companies will recognise the development potential for each project by sharing certain infrastructure and operational support.

They will review pre-development and share facilities in the closest town of Bouguoni, where they currently operate separate facilities to support exploration and fieldwork.

Kodal Minerals and Mali Lithium will review the establishment of common workshops, servicing, storage and catering facilities, as well as common supply chains for spares, reagents, fuel and other consumables.

They will also jointly review the strategy for transport and shipping, as well as the approach to community development for their respective lithium projects.

Kodal Minerals completed a feasibility study to submit the mining licence application for the project to the Mali Government.

Kodal Minerals CEO Bernard Aylward said:  “Kodal Minerals recognises that the potential synergies of development with MLL can have significant beneficial effect on the development capital required, as well as ongoing operating expenses throughout the life of mine.

“The two companies are operating in the same region of Mali and intend to develop similar lithium mining operations. It makes strong sense for the companies to work together where possible to improve the operations and financial return on the projects.”

In November 2019, the company received approval for the environmental and social impact assessment (ESIA) application for the lithium project.

In the same month, Kodal Minerals secured two new exploration licences, Fariedele and Sogola Nord, covering 150km² of the Bougouni project.