SHANGHAI, May 4 (SMM) – It is wholly owned by Minerals, who obtained a mining license in November 2021, which is valid for 12 years and can be renewed for 10 years until all resources are mined. The resources (indicated + inferred) of the three main mining areas of the Bougouni lithium project, Sogola-Baoule, Ngoualana, and Boumou, are 21.3 million mt. According to the feasibility study report released by Kodal Minerals in January 2020, the project can process 2 million mt of lithium ore on average per year and produce 220,000 mt of 6% spodumene concentrate.
In February 2019, the company announced that the updated JORC mineral resources of the Bougouni project were 21.3 million mt, with a Li2O content of 1.11%, of which 11.6 million mt were indicated resources, with a Li2O content of 1.13%, and an inferred resource of 9.7 million mt, with a Li2O content of 1.08%. This updated amount of mineral resources is 23% higher than the original amount announced in September 2018, with more than 55% of the resources now in the Indicated Category.
