• Kodal Minerals produces 26,981 tonnes of spodumene concentrate in Q1
• Exports reach about 69,000 tonnes, generating $51 million in revenue
• Mine targets annual capacity of 125,000 tonnes amid lithium price recovery

On Tuesday, April 14, Kodal Minerals said it produced 26,981 tonnes of spodumene concentrate at the Bougouni mine during the first quarter in Mali. The performance reflects the gradual ramp-up of the asset, alongside increasing initial sales to China’s Hainan Mining, which serves as both the main client and a partner in the joint venture operating the project.

In its operational update, the company said it produced 10,900 tonnes in March, marking a monthly record since the site began operations in February 2026. At the same time, the company is continuing optimization work across mining operations, which target an annual production capacity of 125,000 tonnes.

On the commercial front, the company is accelerating the monetization of output. It has already shipped around 49,000 tonnes of concentrate to China since December, while another 20,000-tonne shipment is currently in transit. Subject to payment, the company said it has generated $51 million in revenue from previous shipments, supported by a recovery in lithium prices after several years of decline.

“The production of more than 10,900 tonnes of spodumene concentrate in March and the recent departure of the third shipment to Hainan demonstrate the continuous improvement and consistency of deliveries at the Bougouni site. This third shipment brings total exports to about 69,000 tonnes of spodumene concentrate since November 2025, and the site continues to benefit from rising lithium prices in the market,” Chief Executive Officer Bernard Aylward said.

Sustained momentum in the coming months could also benefit Mali, which holds a 35% stake in the mine, including 5% allocated to local investors. The remaining 65% is held by the joint venture between Kodal Minerals and Hainan Mining.

Beyond Bougouni, the West African country also hosts the Goulamina lithium project, which China’s Ganfeng Lithium controls.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange J.A de Berry Quenum