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Kanglongda: Signing Agreement to Terminate Underwriting Agreement]

On March 29, Kanglongda announced that it jointly signed an "Agreement to Terminate the Binding Terms Sheet Regarding the Purchase of Spodumene from the Bougouni Lithium Project" with Kodal Minerals PLC (referred to as "KODAL"), Hainan Mining and its controlling subsidiary, Kodal Mining UK (referred to as "KMUK"). According to the agreement, KMUK will pay Suay Chin a total of 14 million US dollars in termination fees in two installments. After receiving the first installment of 7 million US dollars, the "Bougouni (Bougouni) Mine Project Spodumene Sales Binding Term Memorandum" signed by Suay Chin and KODAL in 2017 will terminate, meaning Suay Chin will give up the priority right to underwrite no less than 80% of the concentrate products for the first three years after the Bougouni carp mine project starts production; KMUK needs to complete the payment of all termination fees before the first batch of spodumene is shipped from Mali or before Octob

The Bougouni Lithium Project in Mali sets to commence production in Q4 2024

On 26 March, Kodal Minerals announced significant advancements in the development of its Bougouni Lithium Project in southern Mali, following a funding transaction with Chinese miner Hainan Mining amounting to US$117.75 million which secures a 51% stake in Kodal Mining. 

Mali: Hainan Mining seeks to buy 100% of the future Bougouni lithium mine

The Bougouni lithium mine, in Mali, could produce 2 million tonnes of spodumene over a lifespan of 8.5 years. Construction works at the mine, under

Fosun's Next Step: "Deep Mining" for Stable Profits