Posted By Global Banking and Finance Review
Posted on May 19, 2025
DAKAR (Reuters) -Kodal Minerals expects to receive an export permit soon for 27,000 metric tons of lithium concentrate stockpiled at its Bougouni project in Mali, it said on Monday, having previously reported export delays because of regulatory hurdles.
The delays have come against a backdrop of declines in global lithium production - potentially by 228,000 tons this year - as miners curtail operations in the face of falling prices for the metal used in electric vehicle batteries.
"Discussions with the government of Mali on finalising the export permit for spodumene concentrate produced at Bougouni are continuing as planned and it is expected the permit will be received in the near future," Kodal said, adding that the company has a positive relationship with the Mali government.
Chief Executive Bernard Aylward is in the West African country reviewing operations, which the company says continue normally.
Kodal, which launched production in February, has agreed to sell its entire output to China's Hainan Mining, Aylward has told Reuters.
"We're spending money to produce a product that we want to sell ... Our buyer actually wants to buy it, [but] we can't export," he told Reuters this month.
Mali, better known as a gold producer, is seeking to develop its significant lithium reserves at a time when its military-led government is asserting more control over the mining sector in an effort to generate more revenue.
Military authorities have arrested foreign executives of other multinational miners and seized minerals stocks while conducting negotiations with the companies.
(Reporting by Maxwell Akalaare AdombilaEditing by Portia Crowe and David Goodman)