Modern Mining July 2020

Mining licence application for the Bougouni project

Kodal Minerals reports that the feasibility study accompanying the mining licence application for its Bougouni Lithium Project in Mali has been accepted by the Ministry of Mines and Petroleum. The Ministry of Mines and Petroleum confirmed that no further COMINE technical and

financial meetings are required prior to mining licence approval. The Directorate Nationale de la Géologie et des Mines has

Bernard Aylward, CEO of Kodal Minerals.

agreed the new mining licence area and new permit boundary that encompasses all resources and the proposed mining and associated infrastructure area. However, Kodal is still awaiting formal issuance of final mining licence documents and notes that the COVID-19 restrictions have impacted on the Mali government’s process and timing of delivery cannot be confirmed. Bernard Aylward, CEO of Kodal Minerals, says: “The acceptance of the feasibility study, submitted in support of the mining licence applica- tion by the Mali government is a reflection of the level of detail supplied and incorporated into the study and supports our belief in the eco- nomic potential of the project,” he says. “The Mali government continues to be very supportive of the development of a lithium mining industry in Mali, and the progress of our permitting reflects the governmental support Kodal has received. Although an exact timeline cannot be given for the final approval of the mining licence application, our communication with the government will continue regularly and we will keep shareholders updated with our progress.”  third party funder, the details of which will be announced on conclu- sion of a definitive agreement. The arbitration has been initiated under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States process, which falls under the auspices of the World Bank’s International Centre for Settlement of Investment Disputes, to which Tanzania is a signatory. Winshear delivered notice to the Attorney General for Tanzania in January 2020 of its intention to submit a claim to arbitration as a result of Tanzania’s breaches of the BIT, including the expropria- tion of its investments. The notice period provides for a six-month consultation period before arbitration proceedings can be pur- sued. Tanzania did not respond during the six-month consultancy period. As a result, Winshear has commenced the arbitration to seek compensation for the losses it incurred as a result of what it terms Tanzania’s illegal acts. The company has engaged LALIVE, an international law firm, to act on its behalf. LALIVE has offices in Geneva, Zurich and London, and specialises in international arbitration. The firm has extensive experi- ence in international investment arbitration concerning mining and other natural resources and is representing investors and states as counsel worldwide. 

July 2020  MODERN MINING  5