Marula Mining is in advanced negotiations with a Chinese battery manufacturer to establish a joint venture for a lithium sulfate plant at the Blesberg lithium and tantalite mine in South Africa.
This plant, scheduled for commissioning in the second half of 2025, will process high-value ore with more stable revenue projections.
The joint venture plant is expected to generate approximately $200 million annually from the production of 2,000 tons of high-value lithium sulfate. The Chinese partner will fund and provide technology for the plant, minimizing Marula’s capital risk while securing a long-term supply of lithium for the partner’s battery operations.
The Company has recently raised £750,000 through a share subscription at 5p per share. With future funding secured and operations expanding, including plans to extend Blesberg’s mining life beyond 10 years, the company is positioning itself for long-term growth.
Jason Brewer, Marula Mining PLC CEO said:
“We are thrilled to announce that the company is finalising negotiations for a new joint venture partnership. This collaboration will mark a significant milestone in our journey toward establishing a state-of-the-art lithium acid leaching plant at the Blesberg Mine.
“This proposed joint venture not only enhances our position in South Africa’s mining sector but also contributes to the rapidly growing battery metals market and continues to solidify our strategic goals.”
“We are committed to driving sustainable growth and delivering value to our stakeholders as we work towards meeting the increasing global demand for lithium and other essential battery metals.
“More updates from Blesberg are due shortly and I look forward to providing further updates on the joint venture as we move ahead and achieve more technical and development milestones at Blesberg.”
The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.
About Marula Mining
Marula Mining (AQSE: MARU A2X: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mining operations and mine development projects in Africa: the Blesberg Lithium and Tantalum Mine, Northern Cape Lithium and Tungsten Project, Korridor Lithium Project and Kruisrivier Cobalt Mine, all in South Africa; the Larisoro Manganese Mine and Kilifi Manganese Processing Operation both in Kenya; the Kinusi Copper Mine, the Nyorinyori Graphite Project, the NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania and the Nkombwa Hill Project in Zambia. 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 AQUIS Stock Exchange (AQSE) in London and A2X Markets in South Africa. Marula is exploring opportunities to admit its shares to trading on Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.
