Marula Mining Pulls the Plug on Zimbabwe Exploration Projects
Marula Mining PLC (AQSE: MARU), an investment and development company specializing in African mining ventures, has officially announced its decision to cease exploration and project acquisition activities in Zimbabwe.
The move comes after a comprehensive effort through its 80% owned subsidiary, Muchai Mining (Pvt) Limited, to secure lithium and copper mining opportunities in the region.
In the latter half of 2023, Marula Mining had initiated a strategic program aimed at identifying high-potential mining projects in Zimbabwe. Despite the presence of advanced project opportunities in the country’s mining sector, the company concluded that none met its stringent internal benchmarks for grade, cost efficiency, and development timelines. This outcome has prompted Marula to redirect its resources toward other promising ventures across the African continent.
Focus Areas: Tanzania and South Africa
Marula Mining is now concentrating on high-grade mining projects in Tanzania and South Africa. The Kinusi Copper Mine in Tanzania has emerged as a flagship operation, with initial copper sales expected to commence by December 31, 2024. An independent assessment suggests that the site could host a 10-15 million tonne deposit rich in high-grade copper, gold, and other base metals. This potential was first highlighted in August 2023, and ongoing development at the site underlines its strategic importance to the company.
In addition, Marula Mining is evaluating copper mining and processing opportunities in Kenya. Technical due diligence is underway to assess the viability and long-term potential of these projects.
Advancing Lithium Mining in South Africa
South Africa’s Blesberg Lithium and Tantalum Mine will serve as Marula’s principal hub for lithium mining and processing. The company is in advanced discussions to establish a joint venture focused on commissioning a lithium acid leaching plant. This facility is expected to enhance the mine’s output and align with the growing global demand for battery metals. Furthermore, Marula is conducting technical reviews of two additional lithium brine projects located in South Africa and Botswana, aiming to expand its footprint in the burgeoning lithium market.
Strategic Portfolio and Market Presence
Marula Mining boasts a diverse portfolio of mining operations and development projects spanning South Africa, Kenya, Tanzania, and Zambia. With a clear emphasis on battery metals—such as lithium, copper, and tantalum—the company’s strategy aligns with the accelerating global shift toward renewable energy and electric vehicle technologies.
The company’s shares are actively traded on the Aquis Stock Exchange in London and the A2X Markets in South Africa. Plans are underway to expand trading activities to additional exchanges in Kenya and South Africa, reflecting Marula’s commitment to growing its market presence across the continent.