JOHANNESBURG (miningweekly.com) – Battery metals exploration and investment company Marula Mining, which is delivering its first cargo of lithium ore from its Blesberg lithium-tantalum mine in the Northern Cape, received a financial boost by closing a partnership with Q Global Commodities (QGC).
As the majority shareholder and major investor in three future metals projects, QGC stands ready to finance Marula and bolster the asset value of this Aquis-listed company that also has interests in Nkombwa niobium and tantalum Hill, rare earth elements and phosphate project in Zambia and the Kinusi copper mine in Tanzania. Marula is also exploring opportunities to list its shares on AIM London and the Nairobi Stock Exchange in Kenya.
“We want to make sure this is a company we can all turn to for massive growth and future profits,” QGC CEO Quinton van der Burgh indicated in a statement to weekly mining.
QGC sees itself capable of adding considerable value with a track record of taking more than 47 projects to the mining stage and having nine mines under management.
“We think Marula is a great play and we intend to put a lot of our time and effort into it this year,” said Van der Burgh, who is up for nomination as chairman of the board.
Reprocessing of the stockpile provides a good base from which to undertake further exploration and eventually hard rock extraction.
“With Quinton, we can now go full throttle,” said the chief executive of Marula Mining. jason brewer.
Marula is looking for opportunities in Eastern, Central and Southern Africa that can generate positive returns for all stakeholders.
“Our board of directors and management team aim to establish Marula as a socially and environmentally responsible, sustainable and profitable producer of critical metals and commodities that are of increasing strategic importance to modern technologies and the global economy,” added Brewer. , a sentiment echoed by QGC. .
Brewer believes that the QGC investment effectively removes funding risk from moving forward with the Marula projects and accelerates far-reaching development.
“We now have the ability to implement our exploration plans, resource drilling programs, feasibility studies and development work on all of our projects.
“Through strengthened financial and marketing relationships, I believe we can now seek to establish Marula as a profitable producer of critical metals and commodities that are of increasing strategic importance to modern technologies and the global economy,” Brewer added.
The first shipment of lithium is being made under a $5 million lithium prepaid facility to a South African subsidiary of global commodities group Traxys.
