Marula Mining Establishes Independent Subsidiary for Copper and Graphite Operations
Marula Mining, a prominent mining company, has recently announced the establishment of its wholly owned subsidiary in Kenya, named Muchai Mining Kenya. This subsidiary will focus on securing both near-term and advanced mining opportunities for copper and graphite in the region.
highlights of this development:
Muchai Mining Kenya: Muchai Mining Kenya will serve as Marula’s dedicated operating entity for copper and graphite mining in Kenya. As a 100% wholly owned subsidiary, it will strengthen Marula’s presence in East Africa.
Extensive Due Diligence: The decision to establish Muchai Mining Kenya follows thorough due diligence conducted by Marula on various copper and graphite opportunities in Kenya. The company expects to conclude these evaluations in due course.
Reinforcing Presence in East Africa: Marula Mining PLC had previously registered locally in Kenya in September 2022 as Marula Mining plc and established its head office in Nairobi. The establishment of Muchai Mining Kenya further solidifies the company’s commitment to the region.
Advancing Battery Metals Opportunities: By establishing this new operating subsidiary, Marula aims to play an active role in Kenya’s mining and metals sector. It aligns with the company’s strategy to identify, develop, and advance prospective battery metals opportunities.
Expansion to Zimbabwe: In addition to Muchai Mining Kenya, Marula Mining had previously established Muchai Mining, an 80% owned Zimbabwean operating subsidiary. This subsidiary focuses on securing advanced battery metals projects in the lithium and copper sectors.
Jason Brewer, the CEO of Marula Mining PLC, expressed his thoughts on the establishment of Muchai Mining Kenya, stating, “The decision to establish Muchai Mining Kenya comes after thorough work in the country and careful consideration of various opportunities in the region.”
Brewer further added, “We have been eagerly anticipating the establishment of Muchai Mining Kenya, especially since Nairobi serves as our headquarters. We are thrilled about the potential that Kenya offers, and we can now proceed with our planned initiatives in the country. The Kenyan government’s emphasis on the mining sector for future economic growth has impressed us.”
Marula Mining PLC actively engages with industry groups in Kenya and aims to contribute to the country’s economic growth and employment through the establishment of a thriving mining sector. Brewer expressed confidence in Muchai Mining Kenya’s success, thanks to Marula’s experience and expertise.
As Marula Mining continues to identify valuable opportunities for its shareholders, Kenya is expected to become a key country for the company’s operational and developmental activities. Marula Mining PLC looks forward to collaborating with all key stakeholders to achieve their goals in Kenya.
