Australia-Stock Exchange-listed firm to acquire 6 ...

Australia-Stock Exchange-listed firm to acquire 6 lithium claims in Zim

Zim Now Writer

Australia Stock Exchange-listed MetalsGrove Mining Limited is close to sealing an agreement to acquire six highly-prospective tantalum claims in Zimbabwe in what the company has referred to as a “transformational” opportunity.

Five of the claims are located close to the Arcadia Minerals Lithium that produces over 450 000 tonnes of lithium concentrate annually.

The sixth one is in the Beatrice lithium belt and the MGA technology team is planning an initial exploration campaign due to start in March 2024.

MetalsGrove managing director, Seam Sivasamy said: “MetalsGrove is very excited to be acquiring these advanced lithium assets which provide the company with prime exposure to the proven lithium-producing district in Zimbabwe.

“Importantly the upfront acquisition terms are modest, allowing the company to set about rapidly advancing these projects through a targeted exploration campaign early next year.

“Further, highlighting the near-term development potential of these projects, we will be located nearby to accessible high-quality infrastructure and a large-scale lithium-processing facility.

“The borad considers this a transformational opportunity for MGA supported by a strong lithium market and we look forward to advancing these assets as quickly as possible over the coming months,” said Sivasamy.