Marula Mining (Marula), through its subsidiary, Southern African Lithium and Tantalum Mining, has agreed to acquire Northern Cape Lithium and Tungsten (NCLT) in South Africa, along with all its lithium, tungsten, and tantalum assets.  

Marula is a UK-based investment and exploration company focused on developing African projects. It is listed on the South African A2X and the UK AQUIS exchanges and announced its partnership with Q Global Commodities in 2023. Its flagship asset is the Blesberg Mine, a lithium and tantalum project in the Northern Cape, South Africa. Additionally, Marula holds interests in several projects outside South Africa, including the Kinusi Copper Mine, Nyorinyori Graphite Mine, and Bagamoyo Graphite Mine in Tanzania; the Larisoro Manganese Mine in Kenya; and the Nkombwa Hill niobium, tantalum, rare earths and phosphate project in Zambia.  

On 19 July, Marula announced that it had agreed to acquire 100% of NCLT. As per the agreement, Marula will make a cash payment of ZAR3M (US$162,570) to the existing shareholders of NCLT and two additional payments, each equating to ZAR15M (US$812,850). These additional payments can be made in cash or shares, depending on the choice of the seller.  

NCLT was a privately held company and the registered holder of Prospecting Right NC 30/5/1/1/2/13317 PR, which covers an area of 15,000ha within the Vioolsdrift Farm, located 12km south of the Orange River in Namaqualand. NCLT’s licence includes more than 16 tungsten assets comprising both brownfield and greenfield sites. The key brownfield sites are the Kaalbeen Mine, which operated until the 1970s and produced approximately 10–12tpy of 74% WO3 concentrate, and the Isis Mine, which operated from 1943 to 1953 with unknown production output. The greenfield projects include the Koubank, Kaalbeen West, and Armbank tungsten deposits. In addition to the tungsten, NCLT also holds brownfield lithium assets, including the Spodumene Kop II Pegmatite, which was previously mined at shallow depths, and the Groendoorn Field, which was previously mined on a small scale until the 1960s and comprises pegmatites containing spodumene, tantalite, beryl, feldspar, and mica.  

According to Marula CEO Jason Brewer, the agreement represents a “strategic acquisition”. Brewer further stated, “All these key projects are located close to our existing Blesberg mining and processing operations and are brownfields sites, with great infrastructure and a good mining and exploration history. This acquisition not only expands Marula’s portfolio and geographic footprint in South Africa but also provides an opportunity to build on infrastructure at Blesberg and position ourselves as a fast-emerging and growth-focused company in the South African mining landscape.”  

This strategic acquisition will enable Marula to expand its metals portfolio and strengthen its lithium position. With tungsten demand set to grow by 1.4%py over the next decade, Marula’s decision to invest in and develop these brownfield tungsten projects is considered to be able to add much-needed supply to an already constrained supply chain dominated by China, Russia, and Vietnam.  

According to Marula, the brownfield assets have not been assessed for more than 40 years. Therefore, this development serves as an opportunity for Southern African Lithium and Tantalum Mining to undertake an updated resource study while planning to recommence operations at the Kaalbeen and Isis mines. The company also plans to undertake the exploration and development of the Koubank, Kaalbeen West, and Armbank tungsten deposits as well as tantalum and spodumene exploration and mine development at Spodumene Kop II and the Groendoorn Pegmatites.