• Kodal Minerals shipped 28,950 tonnes of spodumene concentrate worth $24 million from San Pedro to Hainan Mining.

• Bougouni became Mali’s second commercial lithium mine in February 2025 with an annual capacity of 125,000 tonnes.

• Mali holds a 35% stake in the project, while Kodal Minerals and Hainan control the remaining 65%.

Kodal Minerals announced in late October that it began transporting lithium concentrate from its Bougouni mine in southern Mali to the port of San Pedro in Côte d’Ivoire. The company initiated shipments after the Malian government granted an export permit in September.

On Monday, December 1, Kodal said it loaded 28,950 tonnes of spodumene concentrate at the Ivorian port. The company valued the cargo at about $24 million. Kodal will ship the material to China’s Hainan Mining Co Ltd, which serves as the main buyer and partner in the joint venture developing Bougouni.

The British miner reported that the first shipment is being loaded onto a bulk carrier that arrived at San Pedro on November 29. Kodal expects Hainan to release payment once the loading process is complete.

Bougouni became Mali’s second commercial lithium mine when it entered production in February 2025, following Ganfeng’s Goulamina mine. Kodal and Hainan, however, waited roughly eight months to secure the necessary export approvals.

The first shipment marks a crucial step toward revenue generation from a project with an annual output capacity of 125,000 tonnes.

“Kodal’s first loading and shipment of spodumene concentrate to Hainan, our development and offtake partner, is a major milestone for our team and will deliver the project’s first revenues,” Kodal CEO Bernard Aylward said. “Furthermore, the significant improvement in lithium prices in recent weeks will impact the sale price of our concentrate under the terms of the offtake agreement.”

Lithium prices have begun to rebound after months of decline. According to Trading Economics, lithium carbonate futures — a higher-value product compared to spodumene — reached their highest level in 17 months in November.

This trend could benefit Mali, which owns 35% of the Bougouni mine, including 5% allocated to local investors. Kodal Minerals and Hainan jointly hold the remaining 65%.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange Jason Quenum