Marula Mining acquires mining licence for Bagamoyo Graphite Project

Marula Mining announces it has acquired mining licences for the Bagamoyo Graphite Project in Tanzania. This follows a binding agreement inked between the company and Kusini Gateaway Industrial Park Limited (“KGIP”) which grants Marula 73% commercial interest in the project.

The Bagamoyo Project is located approximately 125km north-west of Dar es Salaam port and has top-notch infrastructure in the surrounding area already catering for an established aggregates, sand and building export industry.  The project which extends over an area of approx. 180 ha, comprises 22 granted graphite mining licenses located in Tanzania.

Global transition to clean energy

“I am delighted to confirm that Marula Mining continues to grow its assets and strengthen its strategy in the battery metals sector. This agreement with KGIP is a great push towards supporting the global transition to clean energy and clearly outlines Marula’s growing position in the critical metals sector and our ambitions to build our business here in Africa. Tanzania now hosts two of our current mineral assets, and we are glad to continue consolidating relations in the region.

“Our management team is looking forward to working hand in hand with the KGIP team and in commencing our initial exploration and site activities in the New Year. Graphite is an essential ingredient in the manufacture of electric vehicle batteries, and as global demand for electric vehicles is expected to drive a massive increase in demand for graphite, we intend to position Marula as best as we can to mine and supply graphite to global markets. I believe this relationship with KGIP will be a very positive one and the start of broader cooperation in Tanzania and I look forward to updating shareholders on our progress here on these graphite licenses and on other future developments in Tanzania,” said Jason Brewer, Marula Mining PLC CEO said:

Saeed Cabdalla, Kusini Gateaway Industrial Park Limited COO commented: “KGIP is delighted to be working closely with Marula, an organisation which we believe brings a great deal of credibility and a growing reputation in East Africa and in the battery metals sector. As KGIP we intend to leverage Marula’s considerable experience and expertise throughout this collaboration, and we look forward to working with them as we advance our graphite project towards development.”