Marula Mining has entered into a binding agreement to acquire up to a 70% interest in the highly prospective Boteti Lithium Brines Project, located in Botswana’s Makgadikgadi Desert Salt Pan. This project, covering 188,140 hectares, is recognized for its significant mineral potential, including lithium and potash, and has been designated the ‘Makgadikgadi Lithium Zone’ by Botswana’s Department of Mines.
Under the terms of the agreement, Marula will initially acquire a 50% interest by issuing 250,000 new ordinary shares to Geowise Resources, the current owner. Marula will also fund 100% of the exploration and development costs, including feasibility studies, aiming to advance the project through to production. Upon successful completion of a feasibility study, Marula will have the option to increase its stake to 70% through the issuance of additional shares valued at GBP100,000.
The acquisition aligns with Marula’s strategy to diversify its portfolio of lithium projects in Southern Africa, complementing its existing Blesberg Lithium and Tantalum Mine. The company plans to commence on-site exploration in Q2 2025, which will include sediment pan mapping, brine sampling, geophysical surveys, and exploration drilling.
The Boteti Lithium Brines Project is expected to benefit from advancements in Direct Lithium Extraction methods, offering a more efficient and environmentally friendly alternative to traditional evaporation ponds. Marula Mining’s investment in this project strengthens its position in the rapidly growing lithium sector, as demand for lithium in battery production continues to surge.
