eBusiness Weekly
Oliver Kazunga
UNITED Kingdom-based mining group, Marula Mining, with interest in Zimbabwe’s mining industry, has announced the intent to forge ahead with the planned dual listing on the Johannesburg Stock Exchange in South Africa and Kenya’s Nairobi Securities Exchange.
The mining group, which has operations in Zimbabwe, Tanzania, South Africa, Zambia and Kenya with projects focused on extraction of rare earth minerals, tantalum, lithium, niobium and phosphates anticipates the dual listing in South Africa and Kenya in the first quarter of this year.
In a statement following the group’s Annual General Meeting held on December 29 last year, the mining group said, “Marula is exploring opportunities to admit its shares to trading on the London Stock Exchange plc’s Standard List or AIM Market, Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.”
Marula is an African-focused battery metals investment and exploration company with interests in several high-value mine projects in Africa.
The group’s chief executive officer Jason Brewer was quoted as grateful to the passing of all resolutions at the Annual General Meeting.
“The significant progress we have made during 2023 across our broad portfolio of battery metals focused mining projects and at the corporate level through the strategic investment and support of South African mining group, Q Global Commodities, has made it a great year for the company.
I look forward now to 2024 and to delivering further on our mining operations and development projects in South Africa and Tanzania in particular,” he said.
Locally, Marula is working on plans to establish a value-added lithium operation in Bikita, Masvingo Province through its local subsidiary, Muchai Mining (Pvt) Limited.
Last year, the mining group announced that it has expanded its target areas of interest in Zimbabwe to copper mining, as it searches for attractive near-term mining opportunities in the country.
In South Africa, the group has interests in lithium and tantalum, in Zambia it invested in copper and graphite extraction while in Tanzania Marula has interests in graphite extraction.
The firm’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa.
The mining industry is one of Zimbabwe’s major economic sectors accounting for 83 percent of foreign currency earnings the country generates, as well as contributing immensely to Government’s revenues, employment creation and infrastructure development.
The country has more than 60 extractable mineral deposits, but less than 210 are presently being commercially exploited.
