African-focused mining and development company Marula Mining (AQSE: MARU) announced that initial exploration activities at the Bagamoyo Graphite Project in Tanzania have commenced.
This follows the announcement of 30th November 2022, when Marula secured a 73% commercial interest from local Tanzanian company Kusini Gateway Industrial Park in 22 granted graphite mining licenses in the Bagamoyo District in the Pwanai Region of Tanzania.
Geofields Tanzania exploration and mining service company has been engaged to complete the Phase 1 Program and has mobilized their team to the site and work is already underway.
The Phase 1 Program will include mapping, sampling, and trenching across the 22 granted mining licenses, and targeting high-grade, jumbo, and large flake graphite mineralization.
Samples from the Phase 1 Program will be collected and prepared to be sent for analyses in Tanzania.
A comprehensive geological database will be produced allowing Marula Mining to move towards implementing its Phase 2 Program work.
The company explains that Phase 1 will be completed in Q1 2023.
Commenting on the commencement of the exploration activities, Jason Brewer, Marula Mining CEO said: “Marula continues to rapidly progress its activities at pace, and across what is fast becoming a very exciting portfolio of battery metals projects here in Africa. We have been impressed by the speed and competence with which Geofields has approached the Phase 1 exploration program to date. Graphite continues to stand out as an essential ingredient in the manufacture of electric vehicle batteries, and as global demand for electric vehicles continues to escalate it is expected to drive a considerable increase in demand for graphite, Marula intends to work towards supplying the product to the global markets from its exploration and development activities in Tanzania and in support of the green transition.”
In 2020, Tanzania’s estimated graphite reserves were at 17 million tonnes, accounting for about 5% of total global reserves of graphite estimated to be 323.8 million tonnes.
Tanzania’s largest graphite deposits are located in the central and southeast regions of the country