UK listed miner Marula Mining which announced the establishment of a new mining subsidiary locally, Muchai Mining Ltd, has appointed Mr. William Thompson as its country manager as they seek for more opportunities and joint ventures.
Muchai Mining was established in order to focus on the fast-growing battery metals sector and the subsidiary will secure advanced lithium and copper mining and development opportunities in the country.
In an update to shareholders Jason Brewer, Marula Mining chief executive said evaluation work and due diligence reviews continue on potential acquisition targets and joint venture opportunities.
Also added that on-site inspections are currently taking place at multiple active mining and exploration sites where lithium ores are being actively mined and stockpiled
“It is great to see the Muchai Mining Zimbabwe team advancing the company’s strategy and progressing our plans to secure high-value lithium and copper assets. The ongoing discussions demonstrate our commitment to expanding our project interests in the region and we are excited about the immediate and long-term potential that Zimbabwe offers Marula in its fast developing and highly attractive lithium sector in particular,” he said.
The chief executive said his company is looking forward to making a mark in the country as the mining world has put an eye on the Zimbabwe market.
Mr. Brewer added that, “The opportunity to actively participate in Zimbabwe’s lithium sector is one the company is very keen to progress, to create value for all stakeholders. It is pleasing to see how the international mining community and investors are looking at Zimbabwe’s lithium sector and making significant investment in new mine development.”
Marula is currently piloting a process for value-added lithium in South Africa and the plan is for the process to be extended to Zimbabwe, where the company has lithium projects under consideration, as well as to Zambia and Tanzania.
This comes as several stages of refining are needed before the spodumene concentrate from mines is ready for use as lithium in electric car batteries.
“Marula Mining remains dedicated to its strategic growth objectives and continues to seek possibilities for value creation for the Company, its partners, and stakeholders. I look forward to updating on our progress in Zimbabwe in due course,” Mr. Brewer concluded.
The Muchai mine is owned 80 percent by Marula Mining and Gondo Mineral Resources Ltd, a local company, holds the remaining 20 percent.
Brewer said “The decision to establish Muchai Mining is the result of extensive due diligence and careful consideration of various opportunities in the region. Our team has been on the ground since the beginning of the year, and we are excited about the potential that Zimbabwe offers the company and the industry.
“With Marula’s experience and expertise, combined with our local partners’ knowledge and experience in the country, we believe Muchai Mining is well positioned for success.”
Marula Mining is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa which include Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project, and Nyorinyori Graphite Project in Tanzania – Harare