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: mining sector
Akobo Minerals Announces Major Milestone in Segele Mine Development, Moving Towards Full-Scale Ore Extraction
Akobo Minerals has achieved a significant milestone in the development of its Segele mine with the completion of the crosscut between the Western and Eastern tunnels. This critical infrastructure enhances operational efficiency and safety, allowing the team to transition from development to stoping activities. The crosscut improves ventilation and provides a secondary exit route, boosting worker safety.
As the company prepares to extract high-grade ore from the richest section, Stope 01, discussions among stakeholders reflect optimism for increased production and financial stability. The mining community is closely monitoring these developments, anticipating a transformative phase for Akobo Minerals as it positions itself for significant growth in the region’s mining sector.
Zambia’s Proposed Minerals Law Risks Undermining Copper Investment and Production Goals, Industry Experts Warn
Zambia’s new Minerals Regulation Commission Bill, designed to increase government control over mineral resources, is raising alarms in the mining sector. Industry experts warn that the bill’s provisions, including potential forced state acquisitions, could deter foreign investment and jeopardize the country’s goal of boosting annual copper production to 3 million metric tons. As Zambia strives to position itself as a leading copper producer, the proposed law may inadvertently create new challenges in attracting and retaining essential investments.
Investment Summit in South Africa Showcases Zimbabwe’s Economic Potential
Zimbabwe’s Minister for Finance and Investment Promotion, Mthuli Ncube, alongside Tafadzwa Chinamo, the Chief Executive Officer of Zimbabwe Investment Development Agency, spearheaded a groundbreaking two-day […]
Nigerian Government Revokes Hundreds of Dormant Mining Licenses
In a sweeping move aimed at revitalizing Nigeria’s mining sector, the Federal Government, acting through the Ministry of Solid Minerals Development, has revoked a staggering 924 dormant licenses. This bold step, following a similar revocation in November 2023, underscores the government’s commitment to combat license speculation and promote active mining. Minister Dele Alake emphasized the adherence to due process, providing license holders ample notification through official channels. The revocation, spanning exploration, mining, quarrying, and small-scale mining licenses, aims to allocate resources to those committed to productive mining activities, fostering economic growth and transparency in the sector.