Cluff Africa signs agreement to acquire Zimbabwe lithium permits
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,” he said.
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 four decades later.
Algy Cluff was invited by Zimbabwe President Emmerson Mnangagwa in London on May 5 to reinvest in Zimbabwe.
“I would like to extend my thanks to [Mutapa Investment Fund CIO] Mr Simba Chinyemba and his staff for their professional conduct and collaboration in the negotiation process. The efficiency of the process has re-affirmed our belief in the durability and value of this partnership,” said Cluff.
He also thanked Ambassador of Zimbabwe to the UK Christian Katsande and his staff, and Ambassador of the UK to Zimbabwe Pete Vowles and his staff for their advice and support.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
