Kodal Minerals Initiates Arbitration Over $15 Million Payment Dispute with Mali Government
Kodal Minerals plc announced the initiation of arbitration regarding a $15 million payment to the Mali government. The claim was filed by Kodal Mining UK Limited (KMUK), a joint venture with Hainan Mining Co. Ltd, seeking compensation for the payment made under a binding Memorandum of Understanding related to the Bougouni Lithium Project. Discussions with Hainan have not resolved the matter. Kodal maintains that the $15 million is not a tax obligation requiring compensation. The Bougouni project achieved spodumene concentrate production in February 2025 and its first shipment in December 2025.
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Kodal Minerals plc has initiated arbitration concerning a $15 million payment made to the Government of Mali. The claim was submitted by Kodal Mining UK Limited (KMUK), a joint venture partly owned by Hainan Mining Co.
Ltd. The payment, contested by KMUK, was made under a Memorandum of Understanding for the Bougouni Lithium Project. Kodal's response to the arbitration notice asserts that the $15 million is not a tax obligation linked to prior financing transactions.
Despite ongoing discussions with Hainan since November 2024, no resolution has been reached. The Bougouni project commenced spodumene concentrate production in February 2025, with its first shipment following in December 2025.
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