Kodal Minerals Shares Jump as First Spodumene Exports Begin from Bougouni Lithium Project
Kodal Minerals PLC (AIM: KOD) shares surged 15% on Monday morning after the company confirmed it has begun exporting spodumene concentrate from its Bougouni lithium project in southern Mali.
The first truckloads are currently undergoing customs clearance en route to the port of San Pedro in Côte d’Ivoire, marking a key step toward commercial production.
Kodal said it is initially focused on transporting 30,000 tonnes from the project’s 45,000-tonne stockpile, with the shipment process expected to take four to six weeks.
[embedpress]https://x.com/KodalMinerals/status/1980191053216166190[/embedpress]Chief executive Bernard Aylward described the development as a major operational achievement:
“This is a major milestone for the Bougouni project with the first truckloads of spodumene concentrate departing site for export from the San Pedro port. Following the successful construction of the Dense Media Separation plant (“DMS”) and processing of ore from the Ngoualana open pit, we are now in a position to consistently manage the exporting of Bougouni’s spodumene concentrate.”
“The first shipment of spodumene concentrate is planned to be 30,000 tonnes, with first revenue expected upon completion of loading of the vessel in the San Pedro port as agreed in the Off-Take agreement. Further updates on the Bougouni operation and export will be provided as developments continue.”
In London trading, Kodal shares were up 15.4% at 0.33p, reflecting growing investor confidence in the company’s transition to production and revenue generation.
