Kodal Minerals faces arbitration over Mali payment dispute

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil extends surge on wider Middle East conflict, Strait of Hormuz closure Gold dips, reverses course as stronger dollar weighs amid Iran conflict Gold price surge after Iran attack could fade, Pepperstone says Dollar surges to over five-week high on U.S.-Iran escalation; euro, sterling slip FLASH SALE (South Africa Philippines Nigeria) FLASH SALE Kodal Minerals faces arbitration over Mali payment dispute By Investing.com Company News Published 03/03/2026, 02:52 AM Kodal Minerals faces arbitration over Mali payment dispute 0 KOD -12.20% LONDON - Kodal Minerals plc (AIM:KOD) announced today that arbitration proceedings have commenced regarding a $15 million payment made to the Government of Mali. Kodal Mining UK Limited , a joint venture owned 51% by Hainan Mining Co. Ltd and 49% by Kodal Minerals, filed a claim seeking indemnification for the payment originally announced on November 5, 2024. Kodal filed its response to the notice of arbitration on Monday, according to a press release statement. KMUK holds the Bougouni Lithium Project and lithium exploration assets in southern Mali. The disputed $15 million payment was made to the Malian Government under a binding Memorandum of Understanding announced on November 1, 2024, relating to the transfer of the Bougouni Lithium Project mining license to Les Mines de Lithium de Bougouni and the project’s migration to the Malian 2023 Mining Code. Kodal stated it has held meetings and correspondence with Hainan representatives since November 5, 2024, to discuss the indemnity claim, but the discussions have not resulted in a resolution. In its response, Kodal stated its position that the $15 million sum is not a tax liability requiring indemnification under the Hainan funding transaction announced on January 19, 2023. The company said it is considering potential associated claims or counterclaims. The Bougouni Lithium Project achieved first spodumene concentrate production...