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Mining firm Marula hires PwC Kenya to help in regional expansion plan
London listed mining firm Marula has hired consultancy firm PwC in Kenya to provide advisory services as it looks to expand into East Africa, as well as other markets across the region.
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 scope of PwC’s 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.
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As demand for battery metals-focused projects rises, Marula will continue to build and expand its interests in other high-quality projects in Africa, supported by PwC.
Marula Mining is an African-focused battery metals investment and exploration company and has interests in several mine projects across the continent. These include the Blesberg Lithium and Tantalum Mine in South Africa, the Nkombwa Hill Project in Zambia, and Kinusi Copper mine and Bagamoyo Graphite Project in Tanzania.
“The appointment is considered important to support the company’s increased activities and new mine acquisition and project development work underway in East Africa,” a statement from 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.”
East Africa has become a major mining hotspot in recent years. Recently US company Titan Lithium Inc announced discovery of lithium deposits south of Mount Kilimanjaro in Tanzania with enough potential to make the country a global market leader for the increasingly popular mineral.
And UK-based gold mining company Caracal Gold PLC revealed that it had discovered gold worth millions of dollars at Kilimapesa Hill in Narok, Kenya.
Making the announcement in March, Caracal Gold PLC Chief Executive Officer(CEO) Robbie McCrae, stated that the gold discovered was a new highgrade that would expand their shares by 23%.
