Kodal Minerals reports first-half 2026 profit as Bougouni
Kodal Minerals plc, the West African lithium producer, has announced a return to profitability in the first half of 2026, driven by the successful full commercial production period at its Bougouni lithium operation.
For the six months ending June 2026, Kodal reported a £3.50 million profit, reversing a £3.66 million loss from the same period last year. Its 49%-owned Kodal Mining UK Ltd contributed a share of profit of £4.59 million, improving significantly from a £2.41 million loss previously.
The Bougouni project produced 53,195 dry metric tonnes of spodumene concentrate grading 5.34% Liâ‚‚O. Despite some production setbacks due to crushing-circuit breakdowns and mining equipment constraints that caused output to fall below budget, completed exports exceeded 69,000 tonnes, generating approximately US$93 million in revenue for project company LMLB. Operations had returned to expected levels by the end of June.
Strong cash generation at Bougouni has enabled US$33 million of loan repayments to Kodal Mining UK Ltd, which used these funds to fully repay and terminate its external Hainan facility.
As of June, Kodal held £13.39 million in cash. Additionally, a new export permit has been granted, authorizing a further 125,000 tonnes of spodumene concentrate for export, supporting continued growth and operational momentum.
This milestone marks a significant step forward for Kodal Minerals PLC as it capitalizes on the growing demand for lithium, a key component in the global transition to clean energy and electric vehicles.
