SOUTH AFRICA - Marula Mining PLC (AQSE: MARU), an African mining and development company, has announced the acceptance of a new prospecting right application by its subsidiary, Southern African Lithium and Tantalum Mining (Pty) Limited (SALT). The right extends over 7,219 hectares adjoining the Blesberg Lithium and Tantalum Mine and the Northern Cape Lithium and Tungsten (Pty) Limited (NCLT) Project. This addition brings Marula's total licensed area in South Africa's Namaqualand district to over 23,270 hectares.
The new prospecting right, acquired at zero cost aside from license fees, will enable Marula to consolidate its strategic position around the Blesberg mine. The area is highly prospective for lithium, tantalum, niobium, beryllium, tungsten, and other minerals important for battery production. The approval process by the Department of Mineral Resources and Energy (DMRE) is expected to conclude within 197 days from the application date in Q4 2024.
Marula has commenced consultations with local landowners and will lodge an application for water use to the Department of Water Affairs, aiming to complete these steps in the current quarter. Exploration activities will begin following the completion of these processes.
In line with focusing on Blesberg and its adjacent licenses, Marula has canceled a Memorandum of Understanding for acquiring an interest in the Korridor 21 Prospecting Right. The company is now concentrating on developing Blesberg into a significant mining and processing operation.
Marula holds a valid Mining Permit at Blesberg and a Mining Right application accepted by the DMRE in the second half of 2024. The company plans to appoint a new mining contractor, complete the installation of a Tomra COM XRT 1200 Ore Sorter, and finalize negotiations with a Chinese electric battery manufacturer for a lithium acid leaching plant.
CEO Jason Brewer expressed commitment to establishing Blesberg as a major center for mining and processing battery and critical metals, benefiting stakeholders. Further updates on the new prospecting right and exploration activities will be provided in due course.
This expansion reflects Marula's strategy to invest in high-value mining projects in Africa, with a focus on battery metals. The company's shares are traded on the AQUIS Stock Exchange in London and A2X Markets in South Africa, with plans to explore admission to other African exchanges.
The information in this article is based on a press release statement.
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