https://www.miningweekly.com
Africa|Copper|Mining|Resources
Africa|Copper|Mining|Resources
africa|copper|mining|resources

Marula establishes lithium, copper mining subsidiary in Zimbabwe

7th March 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Mining and development company Marula Mining has established Muchai Mining, an 80%-owned Zimbabwean operating subsidiary.

Muchai Mining has been established to focus on securing near-term and advanced lithium and copper mining and development opportunities in Zimbabwe’s fast-growing and highly attractive battery metals sector, Marula says.

Marula will hold 80% of the company’s equity, while Zimbabwean company Gondo Mineral Resources (GMR) will own the remaining 20% interest.

The decision to establish the subsidiary company and have an operating presence in Zimbabwe follows an extensive due diligence that is being completed on a number of opportunities in Zimbabwe’s fast-growing battery metals sector, Marula points out.

Representatives of the company and Muchai Mining’s management team have been in the country, on the ground, since the beginning of the year, reviewing a number of potential opportunities.

The establishment of Muchai Mining is in line with the company’s strategy to identify, develop and advance new prospective battery metals opportunities in East and Southern Africa.

“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 partner’s knowledge and experience in the country, we believe Muchai Mining is well positioned for success,” comments Marula CEO Jason Brewer.

“This positioning of Marula in Zimbabwe aligns seamlessly with our strategy and development plans, as we continue to identify and pursue opportunities that we believe have the potential to deliver value to our shareholders.

“Zimbabwe is home to some of the most substantial hard rock lithium deposits globally, with major interest from Chinese-owned mining companies who are active in the sector.

“Additionally, Zimbabwe is home to over 70 known copper deposits, and copper mining has experienced a revival in the country, coinciding with an increase in copper prices,” he adds. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Resources Watch
Resources Watch
27th March 2024

Showroom

Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.122 0.157s - 91pq - 2rq
Subscribe Now