Kodal Minerals (AIM: KOD), the West African lithium producer and explorer, has officially opened the Stage 1 Bougouni Lithium Project in southern Mali, with President Assimi Goïta presiding over a ceremony on 3 November 2025.

The inauguration, hosted by General Ousmane Wele, Governor of the Bougouni Region, brought together senior government officials including Professor Amadou Keita, Mali’s Minister of Mines, local community leaders, and national and regional media. The event featured speeches from Professor Keita and David Teng, Chairman of Kodal Mining UK Limited and CEO of Hainan Mining Co. Ltd, followed by a tour of the Dense Media Separation (DMS) processing plant and the unveiling of an official inauguration plaque by President Goïta.

The Bougouni Project, located roughly 180km south of Bamako, is operated by Les Mines de Lithium de Bougouni SA, a Malian subsidiary of Kodal Mining UK Limited in which Kodal holds a 49 per cent stake and Hainan the remainder. The Malian government retains a 35 per cent direct interest. Construction began in mid-2024 and the plant produced its first high-grade lithium spodumene concentrate (5.53% Li₂O) in February 2025 during commissioning. To date, more than 45,000 tonnes have been produced, with Stage 1 targeting annual output of 125,000 tonnes at an average grade of 5.5% Li₂O.

Kodal has completed the first transportation of spodumene from Bougouni to the Port of San Pedro in Côte d’Ivoire for export to Hainan’s refinery in China, with the initial shipment expected to trigger the first revenues later this month.

Bernard Aylward, CEO of Kodal Minerals, said: “It was a privilege to witness the strong support from President Goïta, government dignitaries and local communities. The successful delivery of our flagship critical minerals project on time and within the US$65 million capital budget is a testament to our dedicated 650-strong workforce, 95 per cent of whom are Malian nationals. We are proud of the benefits the project brings locally and nationally, and we look forward to nearly doubling production in Stage 2, which is already in planning.”

Below is an interview with Kodal Minerals CEO Bernard Aylward who provides an overview of Kodal Minerals