Bougouni lithium project mining licence transfer completed
The Foulaboula exploitation permit, or mining licence, has been approved for transfer from Future Minerals to London-listed Kodal Mining UK's subsidiary Les Mines de Lithium de Bougouni (LMLB).
The mining licence is the key permit at the flagship, fully-funded Bougouni lithium project, in southern Mali, the company points out.
The transfer is effective immediately and it confirms that the licence remains in good standing.
Discussions are continuing to finalise the necessary permitting for the export of the spodumene concentrate produced at the project and the company expects to begin exports in the next quarter.
It confirms that all compliance issues for the inclusion of the government of Mali as a shareholder in the mining company LMLB have been finalised and approved prior to the transfer being authorised.
Construction of Bougouni is near completion and the project achieved first lithium spodumene concentrate product in February.
It is owned and operated by Kodal Mining UK, in which Kodal has a 49% interest.
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