https://newsletter.en.creamermedia.com

Cluff Africa inks deal to acquire Zimbabwe lithium permits

5th July 2024

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

UK-based mineral resources investment company Cluff Africa has signed a term sheet with Zimbabwe sovereign wealth fund, Mutapa Investment Fund, to acquire 45% in the Sandawana mining permits. This agreement marks the conclusion of a due diligence process.

Cluff Africa plans to launch a reverse circulation drilling programme immediately following the final agreement with Mutapa, aiming to define an inferred resource.

“We are pleased to have reached this pivotal point, from which we can now begin to develop what we believe to be a world-class, high-grade lithium resource, alongside our partner Mutapa,” said Cluff Africa chairperson and CE Algy Cluff.

“Together, we can leverage our complementary strengths, resources and expertise to achieve this shared goal and deliver enhanced value of this particularly exciting asset.

“We look forward to progressing the exploration programme, and unlocking significant value in this highly prospective mining region.”

Cluff Africa has a longstanding history in Zimbabwe, having first invested in the country shortly after its independence in 1980. The company discovered and developed the Freda Rebecca gold mine, which continues to produce gold.

Algy Cluff was invited by Zimbabwe President Emmerson Mnangagwa in London on May 5 to reinvest in Zimbabwe.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Projects

 

Showroom

BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 
John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 22 November 2024
Magazine round up | 22 November 2024
22nd November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.064 0.179s - 170pq - 2rq
Subscribe Now