Kodal Minerals CEO on Mali arbitration and continued strong progress at Bougouni Lithium Project

Описание: Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward talked with Proactive's Stephen Gunnion about the company’s latest operational progress at the Bougouni Lithium Project in Mali, ongoing shipments to China, and the newly announced arbitration process relating to a US$15 million payment connected to a 2024 agreement with the Mali government.

Aylward explained that Kodal entered arbitration following discussions with joint venture partner Hainan Mining Co. Ltd regarding an indemnity claim under the existing financing agreement. He stated that the parties hold “diametrically opposed views” and said the company is comfortable allowing a third party to reach a decision while discussions continue during the arbitration process.

Despite the dispute, Aylward emphasised that the underlying partnership remains strong, with both parties committed to advancing Bougouni, including planning for stage two development and a significant 2026 work programme involving drilling and engineering studies.

Operationally, Bougouni is performing well. The company recently completed its second shipment, receiving an initial 95% payment of just under US$24 million for nearly 20,000 tonnes of spodumene concentrate. A third shipment is anticipated in late March or early April. Aylward stressed, “We’re selling into a very high price, lithium market, and our product is in strong demand,” noting that Hainan Mining is keen to secure as much product as possible.

He added that mining, processing, and logistics are progressing smoothly, with product being transported to port, shipped to China, and generating revenue.

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