Kodal Minerals: Pioneering Lithium Development in West Africa
The global race for clean energy solutions has propelled lithium into the spotlight as a critical mineral essential for battery technology. Among the companies leading this charge in Africa is Kodal Minerals, a UK-based mining development and exploration firm focused on the promising mineral wealth of West Africa. Established in 2010, Kodal Minerals has strategically positioned itself with its flagship Bougouni Lithium Project in southern Mali, alongside other exploration ventures in gold. This article offers a comprehensive overview of Kodal Minerals, its specialties, projects, and its rising role in the lithium market.
Introduction to Kodal Minerals
Who Are Kodal Minerals?
Kodal Minerals plc is a mining development and exploration company headquartered in London, United Kingdom. Operating primarily in West Africa, the company specialises in the exploration and development of critical minerals—most notably lithium and gold. With a team of around 11 to 50 employees and a steadily growing presence, Kodal Minerals has garnered significant attention from investors and industry experts alike.
Founded in 2010, the company has developed a focused strategy to leverage the rich mineral deposits of West Africa, an area gaining recognition for its potential in the global minerals supply chain.
Company Headquarters and Contact
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Headquarters: Prince Frederick House, 4th Floor, 35-39 Maddox Street, London, W1S 2PP, United Kingdom
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Phone: Not publicly listed, but inquiries can be directed through the website contact form
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Website: https://kodalminerals.com
Specialties of Kodal Minerals
Kodal Minerals specialises in:
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Lithium Exploration and Development: Their primary focus is on lithium, a key element in electric vehicle batteries and energy storage systems.
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Gold Exploration: Kodal also maintains a portfolio of gold exploration projects across Mali and Côte d’Ivoire, expanding its mineral asset base.
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Mining Project Development: Moving beyond exploration, Kodal is actively advancing mining projects towards production, aiming to contribute significantly to mineral supplies.
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West African Mineral Resources: The company focuses on the Birimian geological belt, one of the richest mineral provinces in Africa.
The Flagship Bougouni Lithium Project
Location and Geology
The Bougouni Lithium Project is located in southern Mali, approximately 180 kilometres south of the capital city Bamako. Spanning an area of roughly 350 square kilometres, this project is situated in the prolific Birimian geological belt, renowned for hosting world-class mineral deposits. This geological setting provides a robust foundation for Kodal Minerals’ development ambitions.
Resource Estimates and Project Potential
As of recent resource estimations, the Bougouni project holds an impressive JORC-compliant mineral resource of over 31.9 million tonnes of lithium-bearing spodumene at an average grade of 1.06% lithium oxide (Li₂O). A significant proportion of this resource falls within the indicated category, offering investors and stakeholders a level of confidence regarding the mineral quantity and quality.
Mining and Processing
Kodal Minerals has progressed beyond exploration and into advanced development stages, with infrastructure such as Dense Media Separation (DMS) plants operational for processing spodumene concentrate. In early 2025, the company announced initial production of over 20,000 tonnes of spodumene concentrate, stockpiled and awaiting export.
Strategic Partnerships
A vital component of Kodal’s strategy includes partnerships with international players and local governments. The company operates its mining activities in a joint venture, where Kodal holds 49%, Chinese company Hainan Mining Co. holds 51%, and the Malian government maintains a stake in regulatory oversight and benefits.
Challenges and Opportunities
Regulatory Environment
Despite the project’s technical success, Kodal Minerals faces challenges, especially in securing timely export permits. The Malian government’s recent scrutiny over pricing and contract terms has delayed lithium concentrate shipments, creating a bottleneck in commercialisation efforts.
Financial Position and Market Performance
Listed on the London Stock Exchange under the ticker KOD, Kodal Minerals has seen fluctuations in share price influenced by project developments and regulatory progress. As of June 2025, the stock price hovers around 0.25 GBX, reflecting market anticipation and ongoing challenges.
Kodal has also secured financial support, including a $15 million loan from its partner Hainan Mining to meet payment obligations, underscoring investor confidence and the importance of maintaining project momentum.
Kodal Minerals’ Role in the Global Lithium Supply Chain
With the accelerating demand for electric vehicles and renewable energy storage, lithium has become a mineral of strategic importance worldwide. Kodal Minerals, through its Bougouni project, aims to be one of the first London-listed lithium producers in West Africa, providing a stable and ethical source of lithium concentrate.
Their contribution is especially significant given the global need to diversify supply chains away from traditional dominant producers and mitigate geopolitical risks.
Exploration Beyond Lithium: Gold Projects
While lithium commands the spotlight, Kodal Minerals maintains active exploration efforts in gold across Mali and Côte d’Ivoire. These projects complement the company’s portfolio, offering potential future revenue streams and diversification within the West African mineral sector.
Why Invest in Kodal Minerals?
Growth Potential
The company’s advanced lithium project positions it to capitalise on the booming clean energy transition. As global markets push for electric vehicle adoption and energy storage solutions, lithium demand is expected to grow exponentially, creating opportunities for Kodal Minerals.
Strategic Location
Operating in West Africa, Kodal Minerals benefits from rich mineral endowments and increasing geopolitical interest in securing critical mineral supplies from Africa.
Experienced Management
The company is managed by professionals with expertise in mining development, exploration, and resource management, with clear strategies for advancing projects to production.
Future Outlook and Expansion
Kodal Minerals continues to invest in exploration and infrastructure development. The successful resolution of export permitting and regulatory hurdles is crucial for the company to commence commercial shipments and generate significant revenues.
Additionally, ongoing exploration work may lead to resource expansion at Bougouni and in other project areas, further enhancing Kodal’s asset base.
Conclusion
Kodal Minerals plc is a dynamic mining company with a focused approach to developing critical minerals in West Africa, particularly lithium. Its flagship Bougouni Lithium Project in Mali showcases promising resource potential, technical progress, and strategic partnerships.
Despite some regulatory challenges, the company is poised to become a key player in the global lithium supply chain, helping to meet the surging demand driven by the green energy transition. With continued development and prudent management, Kodal Minerals represents an important and emerging force in West African mining.
