Kodal Minerals has signed a binding earn in with GH Geo-Consult for up to 80 percent of the 156 square kilometre Asamankese lithium project in Ghana’s Eastern Region, paying 300,000 dollars for an initial 10 percent and committing at least 13 million dollars over five years. Rock chip samples at the Amantra and Nfranta prospects have graded up to 3.02 percent lithium oxide. Kodal, which produces spodumene at Bougouni in Mali with partner Hainan, reported third quarter Bougouni output of 27,234 dry metric tonnes and full year guidance of 105,000 to 115,000 tonnes, and says Asamankese exploration will be funded from operating cash flow, with first drilling expected before the end of 2026.
Lithium Universe, the North America focused lithium refiner, has announced the resignation of its chief executive, reported by Mining Weekly on October 23. No successor or interim arrangement is carried in the pool item, so the item ships at roundup level pending the company’s own announcement.
Central banks are continuing to pile into gold, with China leading the buying, Mining.com reported on October 23. The item is a demand side signal for the metal rather than a miner event, and it lands in a week when gold fell 4.14 percent to 4,007.90 dollars and gold miners fell 8.56 percent, a divergence between official sector buying and listed miner pricing.
In Zimbabwe, an attempted takeover of a gold mine at Filabusi left injuries and plunder, allAfrica reported on October 23. The item is carried as a jurisdiction signal alongside today’s Redwing financing story: asset security and title enforcement remain live risks for Zimbabwe gold assets even as regional bank financing advances.
Referenced, not repeated: Nippon Steel’s reported 3 billion dollar equipment upgrade at United States Steel plants was already carried in the October 23 mining roundup, and Fortescue’s September quarter, with shipments of 46.8 million tonnes against sales of 42.9 million tonnes in its China Mineral Resources Group negotiation, was published in full on October 22 and restated without new figures on October 23.