Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to announce that it has entered into a binding heads of agreement with Tanzanian mining company, Kusini Gateaway Industrial Park Limited (“KGIP”), securing a 73% commercial interest in the Bagamoyo Graphite Project, which extends over an area of approx. 180 hectares and comprises 22 granted graphite mining licenses (the “Licenses”) located in Tanzania.
The signing of the agreement with KGIP further strengthens the Company’s position in the battery metals sector, with Marula now holding project interests in the lithium, graphite, copper, niobium, tantalum and rare earths metals.
Jason Brewer, Marula Mining PLC CEO said: “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.”
