Marula invests in high-grade copper mining project in Tanzania

Marula Mining has entered into binding heads of agreement with Takela Mining Tanzania and has secured a 49% commercial interest in the Kinusi copper mining project, which comprises 10 granted copper mining licences in Tanzania.
The licences are valid for seven years and are located in Kinusi in Mpwapwa District in the Dodoma Region of central Tanzania.
“The investment with Takela on their Licences and their small scale and high-grade copper mining activities add to our portfolio of investments in green transition metal assets,” said Marula chief executive Jason Brewer.
“Copper in Africa is a natural fit for Marula and our strategy given its use in electric vehicles and the associated infrastructure, and renewable energy such as wind turbines, and its location.”
Marula will advance funds to Takela to allow them to complete additional exploration and expansion and development on the Licences and to the current small-scale mining activities.
On-site investigations by the company’s management during the due diligence period identified a potential high-grade and shallow copper ore body that appears to extend for over one kilometre and remains open in all directions.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished