Malian Delegation Visits Ruifu Lithium Corporation

RNS Number : 0711F

Kodal Minerals PLC

24 October 2018

 

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

24 October 2018

Kodal Minerals plc ('Kodal Minerals' or the 'Company')

Malian Delegation Visits the Ruifu Lithium Corporation in China

Kodal Minerals, the mineral exploration and development company focused on the exploration and development of its Bougouni Lithium Project in Southern Mali, West Africa, is pleased to report that a delegation of Malian officials, including the Mali Minister for Mines and Petroleum, Mrs Lelenta Hawa Baba Ba, recently visited the Shandong Ruifu Lithium Corporation ('Ruifu') lithium carbonate plant in Feicheng City, Tai'An in the Shandong Province of China.  The visit, which is part of a coordinated strategy by the Government of Mali to diversify and expand its mining industry, was organised and hosted by the Company in collaboration with Kodal's major shareholder, Suay Chin International Pte Ltd ('Suay Chin') together with Suay Chin's associated party, Ruifu, one of the largest lithium carbonate producers in China.

Dr Qingtao Zeng, Suay Chin's representative director on the Board of Kodal, hosted the delegates, who, in addition to Mrs Lelenta, included Presidential advisers, Mr Osmane Mamadou Konate and Mr Tidiane Kouyate, as well as the Minister's adviser and various other representatives from Mali.  During the visit, delegates were given a tour of the plant, which has production capacity of up to 20,000t of lithium carbonate per annum, and were able to verify the spodumene concentrate feed to the facility.  Although the current spodumene source comes from Canada and Australia, the Malian officials and Ruifu jointly demonstrated interest in ensuring that future lithium concentrate products could be supplied to this plant by Future Minerals SARL, a fully owned subsidiary of Kodal Minerals.  These expressions of interest further support the Company's previously announced off-take agreement with Suay Chin for up to 100% of Kodal's lithium output from its Bougouni Lithium Project in Mali.

Dr Qingtao Zeng, Director of Kodal Minerals, said: "This visit highlights the clear spirit of cooperation between the Malian Government and overseas investors in collaborating to unlock the country's strategic natural resources for the benefit of all stakeholders.  We were delighted that Mrs Lelenta, Mali's newly appointed Minister of Mines, once again voiced her support for expanding the country's established mining industry and diversifying to lessen its historic heavy reliance on gold production.

"Kodal, with support from its strategic investor, Suay Chin, remains in a strong position to be a key mover in this diversification strategy, with focus on achieving initial spodumene concentrate production from the Bougouni Lithium Project as soon as possible, as work continues to upgrade the status of the Mineral Resource estimate and on open pit optimisation and metallurgy studies to optimise the processing plant."

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For further information, please visit www.kodalminerals.com or contact the following:

Kodal Minerals plc Bernard Aylward, CEO	Tel: [phone]
Allenby Capital Limited, AIM Nominated Adviser Jeremy Porter/Nick Harriss	Tel: [phone]
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay	Tel: [phone]
St Brides Partners Ltd, Financial PR Susie Geliher/Cosima Akerman	Tel: [phone]

 

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