Marula develops subsidiary in Zimbabwe
Marula Mining PLC has developed a subsidiary in Zimbabwe. The new subsidiary dubbed Muchai Mining Ltd, is a formation of 80% Marula and 20% Gondo Mineral Resources Ltd, a local Zimbabwean company.
The subsidiary will focus on the fast-growing battery metals sector. It has been tasked to secure advanced lithium and copper mining and development opportunities in the country. Chief Executive Officer Jason Brewer says: “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.”
About Marula Mining
Marula Mining (AQSE: MARU) 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, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.
Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The 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.
Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya’s Nairobi Securities Exchange.
