[Kodal Obtains Mali Lithium Ore Export Permit]
UK-listed miner Kodal Minerals has officially received an export license for spodumene concentrates from the Malian government, clearing a key hurdle for the first shipment from its southern Bougouni lithium mine.
According to a formal document signed by Minister of Mines Professor Amadou Keita, the company is permitted to export up to 125,000 mt of spodumene concentrates, pending completion of final administrative procedures.
Kodal CEO Bernard Aylward stated, "The grant of the export license is a key step in the development of the Bougouni project and also reflects the strong support from Mali's Ministry of Mines and the government for the project's continued advancement and expansion."
The document also specifies that lithium concentrate pricing will reference the Shanghai Metals Market (SMM) spodumene benchmark price, but the government reserves the right to verify and adjust the price. Kodal had previously signed an offtake agreement with China's Hainan Mining, agreeing to sell all production to the latter based on the SMM benchmark price.
Logistically, the company has signed a contract with a leading Malian logistics operator, plans to ship via a port in the Republic of Côte d'Ivoire, and has committed to paying all taxes and duties in full.
The Bougouni lithium mine is located 170 km south of the capital Bamako, operated by the local Malian entity Les Mines de Lithium de Bougouni SA, with Kodal holding a 49% stake. The project is designed to produce 11,000 mt of spodumene concentrates per month, making it the second lithium mine to commence production in Mali, following Ganfeng Lithium's Goulamina mine (which started production in December 2024).
Source: mining.com
[Ukraine Launches Tender for Large Lithium Mine]
Ukraine is launching a tender for the development of a large lithium mine located in the central Kirovohrad region, as part of a mineral agreement reached with the US; however, project ownership remains subject to legal disputes.
Ukrainian Prime Minister Yulia Svyrydenko confirmed the tender for lithium mining at the Dobra site when announcing the approved mineral resource development plan. She stated in a Telegram post on Monday, "We expect investors not only to extract but also to develop value-added industry chains."
Data from the Ukrainian Geological Survey shows that Ukraine holds about one-third of Europe's lithium resources. The Dobra tender is the first step under the Kyiv-Washington mineral cooperation agreement and a core element of the Trump administration's "transactional" aid policy towards Ukraine, aimed at weakening China's dominance in the global metals sector. However, this tender conflicts with New York-based Critical Metals Corp.
Potential Dispute
Critical Metals claims, through its largest shareholder - the Australian company European Lithium - to control the Dobra mining rights. On Tuesday, Critical Metals' stock price fell 5.3% in New York to $5.87 per share, with a market capitalization of approximately $609 million; European Lithium closed down 2.1% in Sydney at A$0.092 per share, with a market capitalization close to A$132 million ($86.1 million).
Mykhailo Zhernov, a director of both companies, stated in an interview with the Financial Times in July that the Dobra license was originally supposed to be issued to Petro Consulting, which European Lithium acquired in 2024. Although the court had ruled that the government should issue the license the previous year, he said the license was never formally granted.
However, neither Critical Metals nor European Lithium provided the Financial Times with relevant documents regarding the license or the court ruling.
TechMet, a mining investment company headquartered in Dublin with the US government as one of its major investors, also expressed interest in developing the lithium mine. Its CEO, Brian Menell, stated earlier this year that the company had been evaluating the project since 2023 and confirmed to the Financial Times that it would bid when the tender was launched.
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[Codelco Warns Chile's Copper Production May Stall at 5.5 Million Mt/Year]
Chile's state-owned copper giant, Codelco, issued a warning that the country's copper production may stall at around 5.5 million mt per year due to multiple challenges.
Codelco Chairman Máximo Pacheco stated at the Ecos de la Minería mining summit in Santiago that the industry is facing "enormous difficulties," including increasing mining depth, declining ore grades, and persistently rising costs. Chile is the world's largest copper supplier, and if production stagnates in the long term, coinciding with accelerating demand driven by the energy transition, the global copper market could tighten further.
Despite the severe challenges, Pacheco emphasized that the company is still advancing upgrades and developing new projects. He confirmed that the company will continue its cooperation with SQM on the lithium project in the Salar de Atacama; this week, it will sign an exploration agreement with BHP for the Anillo copper mine; and a joint mining plan with Anglo American is expected to be finalized in the coming weeks.
SQM President Gina Ocqueteau expressed optimism in an interview with the local media La Tercera that the cooperation agreement with Codelco is expected to be approved before Chile's next government takes office in March. She noted that the details of the cooperation could be finalized ahead of schedule, but if delays occur, it would postpone the revenue needed for government projects.
Awaiting Minister's Signature
Chilean Minister of Energy and Mining Aurora Williams confirmed that the special contracts required for the collaboration between the state-owned copper company Codelco and SQM have passed reviews by the Comptroller General and the state copper commission Cochilco. "The only remaining step is to sign the contracts," she said.
The contracts specify terms for exploration, mining, environmental protection, and economic conditions. Under the agreement, Codelco will gain majority control over SQM's lithium production in northern Chile. Once approved, the partnership will solidify a landmark alliance for one of the world's most strategic lithium assets.
Some presidential candidates have stated that if the agreement is not finalized during current President Gabriel Boric's term, they will review or even revoke it, pressuring the government to expedite implementation to fulfill its pledge to strengthen the state's role in lithium production.
Source: mining.com
[Quebec Government Ends Funding for Northvolt Battery Project]
The Quebec government has withdrawn from Swedish Northvolt AB's electric vehicle battery plant project in Canada, ending a high-profile initiative derailed by the company's bankruptcy.
"Today, we are terminating our investment in Northvolt in Quebec," Minister of Economy Christine Fréchette said in a press release. "As the company failed to submit a satisfactory proposal aligned with Quebec's interests, we will exercise our rights to recover the investment as much as possible. The project has failed, and we are disappointed."
In August this year, California lithium-sulfur battery startup Lyten Inc. agreed to acquire all of Northvolt's remaining European assets. The transaction amount was not disclosed, but the U.S. buyer stated it was completed at a "significant discount" "well below" the estimated $5 billion valuation. Lyten had expressed interest in taking over the Canadian project (estimated construction cost over $5 billion), but the Quebec government was unenthusiastic. Northvolt's collapse came at a high political cost for the ruling Coalition Avenir Québec.
"This decision is deeply regrettable, especially given the extensive efforts we have made and continue to make to find a buyer," Northvolt's Canadian subsidiary said in an emailed statement. "We emphasize that Northvolt North America has not entered bankruptcy proceedings and retains sufficient resources to restart the project."
Quebec lost C$270 million (approximately $196 million) in the Northvolt project, but according to data from Fréchette's office, the province still holds a senior secured loan tied to the factory land near Montreal, totaling C$260 million including principal, interest, and related fees. The press release noted that after the termination of the commitment, 352 megawatts (MW) of electricity will be released for other industrial projects within the province.
Northvolt's bankruptcy also caused losses for Canadian pension funds: the Ontario Municipal Employees Retirement System fully wrote off its 325 million Canadian dollar investment; the Caisse de dépôt et placement du Québec wrote down its 150 million Canadian dollar investment to zero; and the Investment Management Corporation of Ontario similarly impaired its 400 million Canadian dollar investment.
In 2023, to attract Northvolt, the Canadian federal and Quebec governments pledged manufacturing subsidies aligned with the U.S. Inflation Reduction Act (IRA), with potential support exceeding 5 billion Canadian dollars during the construction and battery production phases.
Source: mining.com
[UN Committee Says Portugal Withheld Lithium Mine Information]
A United Nations committee stated on Wednesday that Portugal violated an international treaty by blocking public access to key information during the environmental permitting process for Europe's largest lithium mine project.
In 2023, Portugal's Environment Agency (APA) approved London-listed Savannah Resources to develop a lithium mine in the Barroso region in the north of the country; the area has been designated a World Agricultural Heritage site since 2018.
Local residents and environmentalists have long opposed the project and said on Wednesday that the findings of the UN Aarhus Convention Compliance Committee further support their demand to revoke the license.
In a statement, APA stated that, despite differing interpretations of the applicable provisions of the convention, it has "always strictly followed administrative procedures and acted in accordance with the law," and claimed all necessary information has been made public.
Savannah Resources declined to comment.
The committee determined that Portugal failed to respect citizens' rights regarding access to environmental information and participation in the permitting process—rights enshrined in the 2001 convention, which Portugal ratified in 2003.
The committee pointed out that APA did not respond to requests for environmental information within the statutory time limit and, when refusing, did not inform the public how to appeal.
The Spanish conservation organization Fundación Montescola filed a complaint against the authorities' actions in 2021, with two Portuguese groups acting as observers during the process.
Joam Evans, President of Montescola, welcomed the decision, stating that the environmental permit should be revoked.
Savannah aims to supply spodumene ore to the European EV industry—spodumene is a key source of lithium in batteries—and stated that Barroso holds Europe's largest spodumene deposit, with estimated high-grade lithium reserves of at least 28 million metric tons. The company expects to begin production in 2027.
Source: mining.com
