- Mineral exploration and development company Kodal Minerals said it had signed a memorandum of understanding with Sinohydro, to develop its Bougouni lithium project in southern Mali.

Chinese state-owned enterprise Sinohydro, an engineering and construction company providing integrated services across a range of renewable energy and infrastructure areas, had been granted an initial six-month exclusivity period to review and advise on financing for the Bougouni project and develop an EPC contract proposal.

'Sinohydro will conduct at its own expense a review of the development proposed for the Bougouni project and provide input in particular on procurement and civil engineering aspects of the feasibility study,' the company said.

Following completion of the feasibility review and development plan and demonstration of project financing, Kodal Minerals and Sinohydro would negotiate a mutually acceptable EPC contract, it added.

At 8:48am: [LON:KOD] Kodal Minerals share price was +0.03p at 0.07p

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