Kodal Minerals has entered a binding memorandum of understanding (MoU) with the Malian government to finalize the transfer of the Bougouni lithium project mining license to Les Mines de Lithium de Bougouni SA (LMLB). This agreement follows a $117.5 million investment from Hainan Group and is governed by the 2023 Mining Code of Mali. Key provisions of the MoU include the allocation of a 35% equity interest in LMLB to the Malian State and local investors, with customs and duties exemptions during the construction phase. Kodal Minerals CEO Bernard Aylward emphasized that this milestone solidifies the project’s future and underscores the strong partnership between Kodal and the Malian government, with production expected to begin in the first quarter of 2025.
Tag: lithium mining
Atlantic Lithium Secures Environmental Permit for Ghana’s First Lithium Mine
Atlantic Lithium Limited has received an environmental permit from Ghana’s Environmental Protection Agency (EPA) for its Ewoyaa Lithium Project, marking a pivotal step towards establishing Ghana’s first lithium mine. The permit, following extensive community engagement and regulatory review, clears the way for the project’s advancement. Atlantic Lithium’s Executive Chairman, Neil Herbert, hailed the approval as a major milestone in the development of Ghana’s lithium industry, which is poised to play a key role in the global clean energy transition.
Atlantic Lithium Makes History on Ghana Stock Exchange
On May 13th, 2024, Atlantic Lithium made history by becoming the first lithium-focused company to trade on the Ghana Stock Exchange (GSE) under the ticker “ALLGH.” This milestone marks the beginning of Ghana’s first lithium mine, the Ewoyaa Lithium Project, which is set to produce 365,000 tonnes of spodumene concentrate annually. The listing offers Ghanaians a unique investment opportunity and signifies a major step in the country’s economic and green energy transition efforts.