UK mining firm hires PwC for East Africa entry strategy


A second-hand batteries vendor sorts used cells for export to Chinese and Indian car battery manufacturers. FILE PHOTO | AFP

London-listed Marula Mining has hired PricewaterhouseCoopers Limited Kenya to provide it with a range of advisory services including acquisitions in the regional market.

Marula Mining is an African-focused battery metals investment and exploration company and has interests in several mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine and Bagamoyo Graphite Project in Tanzania.

It now wants to expand into East Africa as well as other markets in the continent.

PwC is expected to provide the company with the transaction, legal and tax advisory services to support its growth and mine development activities in the regional market.

“The appointment is considered important to support the company’s increased activities and new mine acquisition and project development work underway in East Africa,” Marula Mining said.

“PWC Kenya will assist in optimising the company’s corporate structure throughout Africa and will assist with legal and tax advisory services.”

The PWC Kenya scope of work also includes transaction-specific work which will include potential new acquisition and investment opportunities and also dual listings of the company’s shares on regional stock exchanges, Marula Mining added.

The multinational says that as it advances operations at the battery metals-focused projects, it will continue to build and expand its interests in other high-quality projects in Africa.

Marula Mining’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that it believes will deliver returns for its shareholders.

The company’s shares are traded on the AQUIS Stock Exchange (AQSE). The multinational said it is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya’s Nairobi Securities Exchange.

It did not indicate when it could list on the local stock market. Kenya and Tanzania are attracting miners prospecting for various minerals including gold and titanium.

Few of the projects have however progressed to the commercial stage despite the confirmation of substantial resource deposits.

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