Mali’s President officially opens Bougouni lithium project in southern Mali

Mali’s President, General Assimi Goïta, has officially opened Kodal Minerals PLC‘s Bougouni lithium project in southern Mali, a key milestone for the AIM-listed miner and a sign of the country’s growing role in the global electric vehicle supply chain.

The opening ceremony took place on 3rd November 2025, with senior government officials, local community leaders, and executives from Kodal and its Chinese partner, Hainan Mining, in attendance.

President Goïta unveiled a plaque marking the start of full operations at the site, located about 180 kilometres south of the capital, Bamako.

The Bougouni mine, operated by Les Mines de Lithium de Bougouni SA, is a joint venture between Kodal Minerals, which holds 49%, and Hainan Mining, which owns the balance. The Malian government has a direct 35% stake.

Construction began in mid-2024, and the site produced its first batch of high-grade lithium concentrate earlier this year.

So far, the project has produced over 45,000 tonnes of spodumene, a lithium-rich mineral used in batteries for electric cars and renewable energy storage, grading around 5.5% lithium oxide. Annual output is targeted at 125,000 tonnes.

The mine’s first shipments have already begun moving from Bougouni to the Port of San Pedro in Côte d’Ivoire, with exports to Hainan’s refinery in China expected later this month. Those deliveries will trigger the project’s first revenues.

Bernard Aylward, chief executive of Kodal Minerals, said the event marked a proud moment for the company and Mali alike. “In partnership with Hainan, the Bougouni operations team has delivered our flagship critical minerals project, both on time and within our US$65 million capital budget,” he said.

“Our project will deliver direct and indirect benefits to the local community here at Bougouni, as well as to the wider Malian economy.”

He added that 95% of the mine’s 650 workers are Malian nationals and that a second phase is already being planned, which aims to almost double production.

Lithium, sometimes referred to as Mali’s “white gold”, has become an increasingly important export for the country as demand for battery materials continues to surge worldwide.