We are delighted to inform you of the participation of our law firm FSD Conseils, as Local Counsel, alongside Herbert Smith Freehills and its joint operating partner in China, Kewei as Counsel to Hainan Mining Co. Limited, controlled by Fosun, on the successful completion of its $117.75 million investment in the Bougouni Lithium project in Mali, in a transaction with Kodal Minerals Plc, a lithium-focused development and exploration company.

Following this transaction, Hainan Mining's UK subsidiary, Xinmao Investment Co. Limited, holds approximately 14% of Kodal Minerals Plc and the majority (51%) of Kodal Minerals Plc's new subsidiary, Kodal Mining UK Limited. The transaction will support the development and production start-up of the Bougouni lithium mine, as well as a gold exploration and development program in Mali and Côte d'Ivoire.

This transaction reflects the current attractiveness of lithium resources, driven by growing demand for electric vehicles and computer batteries.

The dedicated FSD Conseils team was co-led by Fatoumata Sidibe Diarra and Bemba Coulibaly.