British investor to acquire a major interest in Sandawana
Cluff Resources Africa (CRA), owned by veteran British miner Algy Cluff, is seeking to acquire a major interest in the rich lithium camp of Sandawana Mining Lease 3 and is currently negotiating with the Mutapa Investment Fund, Country Manager and Consultant Geologist Mark Tsomondo has revealed to Mining Zimbabwe.
Rudairo Mapuranga
Tsomondo stated that Dr. John Mangudya, the CEO of Mutapa will release more information about the negotiations in due course.
He mentioned that Cluff Resources Africa intends to explore, develop the mine, and process the resource according to the standards set by the Sovereign Wealth Fund.
“We are negotiating with the Mutapa Investment Fund to acquire Sandawana Mines. We anticipate receiving useful updates from the CEO of Mutapa Investment Fund this week, and I would prefer not to comment further until these delicate negotiations are concluded, as they involve third parties. However, we are very interested and excited about the prospect of entering the Sandawana environment, where we believe we can conduct exploration, mine development, and processing to the standards befitting the Sovereign Wealth Fund,” he said.
The top geologist said Cluff visited Sandawana in April where he presented his vision and desire to list on the local and external stock markets.
“Algy Cluff visited Sandawana Mines this April and met with Mine Management. There, he presented his vision and goals that include employee shareholding and listing the entity on the local and external bourses.
Sandawana Mines, which is one of the assets under Kuvimba Mining House (KMH), is sitting on an estimated 100 million tonnes of lithium resources, making it one of the biggest lithium assets in the world.