Marula Mining Announces The Acquisition Of Blesberg Lithium And Tantalum Mine
Marula Mining Announces The Acquisition Of Blesberg Lithium And Tantalum Mine. Marula Mining, an African focused mining and development investing company, is pleased to announce that further to the announcement made by the Company on 27 October 2022, it has elected to increase its shareholding in the Blesberg Lithium and Tantalum Mine in South Africa from 5% to 100%.
Jason Brewer, Marula Mining PLC CEO, said: “I’m delighted to confirm Marula’s new conditional holding in the Blesberg mine, to acknowledge the progress we’re making, and to see that the administrative matters surrounding our acquisition of the 100% interest in the Blesberg Mine has progressed at such a rapid and effective pace. I am confident that with the assistance of our lawyers and consultants in South Africa we will secure the remaining regulatory approvals. It is also great to see Marula’s shareholders support and approval in steering this transaction forward at the recent AGM, approving the expanded strategy that now allows us to hold majority and 100% interest in projects such as Blesberg.”
“The recently announced US$5 million pre-payment funding was a positive reaffirmation of Blesberg, and the first tranche of funds have now been used to complete the acquisition and balances have allowed our contractors in South Africa to accelerate with the next phase of work as we move closer to producing a saleable lithium spodumene product. There is no better time to have Blesberg move ahead in operations than during a time of strong lithium demand in various sectors and also at a time when we continue to strengthen our battery metals investing strategy by securing and exploring more battery metals commodities in Africa. I look forward to sharing further updates in due course.” Brewer continued to say.
Marula Mining is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine in Tanzania. As it advances operations in the projects, Marula is open to look into other high-quality commodities in several jurisdictions. Marula aims at identifying and investing in advanced and high-value mining projects throughout East, Central and Southern Africa that can deliver rapidly for its shareholders and can be taken through to production and generate positive returns for all stakeholders.
The company’s board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.
