Kodal expands lithium projects in Africa

Kodal Minerals, a British company, has started production at its Bougouni mine in Mali in 2025, marking a key step in moving from lithium exploration to commercial production. This follows the company’s earlier expansion into Mali and now includes new activities in Ghana.

New agreement in Ghana

On October 19, Kodal announced an agreement with GH Geo-Consult Limited to gradually acquire up to 80% of the Asamankese project in Ghana. The project covers a 156 km² permit located 75 km from Accra by road.

Initial investment and structure

Kodal initially holds 10% of the project, acquired for 300,000 dollars, through a joint venture. Its partner must request the authorities to transfer the permit to this structure. Kodal's share can increase over five years, based on exploration expenditures, payments, and technical results.

Phased development plan

A first phase of six months plans 1.25 million dollars in expenditures and payments to raise Kodal's share to 30%. Subsequent steps aim to reach 60% and then 80%, with respective milestones of a first resource estimate and a final feasibility study.

Targeting lithium-rich minerals

On site, Kodal is searching for a spodumene deposit, a mineral that contains lithium. Two priority areas have been identified, and 95 out of 164 rock samples collected so far have lithium oxide contents exceeding 1%, with the highest reaching 2.49%.

Local expertise and support

Kodal is working with a Ghanaian team that previously worked on the Ewoyaa project, considered the future first lithium mine in Ghana. The company also draws on its experience in Mali, where the Bougouni mine, supported by Chinese Hainan Mining, produced 80,429 tonnes of concentrate in the first nine months of 2026.

Exploration and future steps

Kodal’s CEO, Bernard Aylward, noted that exploration has identified well-developed pegmatite zones at Amantra and Nfranta. The company is refining target areas to guide future diamond exploration drilling, which will determine the next steps in exploration.

Resource estimate pending

Kodal has not yet completed a resource estimate that would define the size of a potential deposit. A feasibility study would later assess the conditions of exploitation and economic viability. The company can pause expenditures on the project while retaining the shares it has already acquired.