en.Wedoany.com Reported - China's Hainan Mining Co., Ltd. released an institutional research record on May 6, 2026, disclosing the latest progress on its Bougouni lithium mine project located in Mali, Africa. The Bougouni lithium mine achieved a lithium concentrate output of 27,000 tonnes in the first quarter of 2026, with the annual production target maintained at approximately 120,000 tonnes, progressing on schedule. According to the Q1 report released on April 29, 2026, benefiting from the realization of benefits from its lithium resource business, the company achieved operating revenue of 1.193 billion yuan in the first quarter, with a net profit attributable to the parent company of 201 million yuan, a year-on-year increase of 25.13%. During this quarter, the new energy business has become the core growth driver for performance.
Regarding subsequent construction arrangements, Hainan Mining has initiated the feasibility study for the Bougouni lithium mine Phase II and is advancing work on the ore block model, land acquisition surveys, and updates to the environmental impact assessment report. The company aims to complete the feasibility study and related compliance procedures before the end of 2026, striving to commence construction in early 2027. The construction period is expected to be about one year, with production potentially starting by the end of 2027 or early 2028. According to the current feasibility study plan, the planned lithium concentrate production capacity for Bougouni Phase II can reach 150,000 to 300,000 tonnes per year. The company also informed the research institutions that this year's lithium salt production target is 16,000 tonnes, with a target of 20,000 tonnes after reaching full capacity next year, and the long-term total lithium salt production capacity is expected to expand to 50,000 tonnes per year.
The Bougouni lithium mine is located approximately 180 kilometers south of Bamako, the capital of Mali. The dense media separation (DMS) processing plant for Phase I began construction in mid-2024 and first produced high-grade lithium concentrate in February 2025. In this research session, Hainan Mining stated that as of early May 2026, the company is continuously transporting lithium concentrate to the port in preparation for the fourth shipment to Hainan, China. The transportation has not been affected by blockades so far, and the situation in Mali has not had a material impact on the production, operations, or transportation of the Bougouni lithium mine. The company will continue to maintain contact with local authorities and the Malian government and dynamically assess risks.
According to research data from industry analysis agencies as of the end of January 2026, the Bougouni lithium mine's resource volume, which was 21.31 million tonnes of ore at the time of Hainan Mining's acquisition in 2023, has been increased to 31.9 million tonnes. The project held its commissioning ceremony in early November 2025, with Mali's transitional President Assimi Goïta attending the unveiling ceremony. Hainan Mining stated that the company will focus on the three core tracks of iron ore, oil and gas, and lithium resources to unleash growth potential and continuously ensure operational stability.
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