Kodal Minerals' power plant at the Bougouni lithium project in Mali is operational, enabling the company to begin commissioning its DMS plant. Lithium spodumene production is expected in Q1 2024. Meanwhile, a dispute between Barrick Gold and the Malian government intensifies, with the government accusing Barrick of owing over US$500 million in unpaid taxes.
Kodal Minerals announced today that its power plant at the Bougouni lithium project in Southern Mali is now operational. This development signifies the company's readiness to commence the full commissioning of Stage 1 of the DMS plant in the coming weeks. Lithium spodumene output is anticipated in the first quarter of this year, albeit slightly later than previously projected.
Kodal Minerals has been actively working to strengthen its ties with Mali following the implementation of new mining regulations in 2023. Last year, Kodal Minerals agreed to pay the Malian government US$15 million. Speaking to Mining Journal's sister publication, Mining Magazine, Chief Executive Bernard Aylward emphasized the importance of operating within the framework of another country's laws and regulations. This agreement has enabled Kodal Minerals to secure the necessary paperwork, including mining and export permits, from the Malian government. However, not all mining companies have enjoyed similar outcomes. A contentious dispute between Barrick Gold and the Malian government has escalated in recent months. The government claims that Barrick Gold owes over US$500 million in taxes, a claim vehemently denied by the company. As a result of the ongoing dispute, Barrick Gold temporarily suspended operations at its Loulo-Gounkoto mining complex this week. The Malian government has taken several drastic measures, including detaining Barrick Gold employees, issuing an arrest warrant against Bristow (a helicopter service provider), restricting Barrick Gold's ability to ship gold from its Loulo-Gounkoto complex, and seizing gold worth an estimated US$245 million. The Malian government has employed similar tactics against another gold mining company, Resolute Mining. The chief executive of Resolute Mining, Terry Holohan, was detained but subsequently released after the company paid the government US$160 million.
Kodal Minerals Lithium Mali Mining Regulations Barrick Gold Dispute Gold Mining Taxation
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