The Molulu Project
The Molulu Project represents a milestone for Critical Metals, being the first acquisition for the us post readmission.
The Molulu Project presents a fantastic opportunity to take advantage of the growing demand for critical minerals and is the first step for our company to build on its presence in the critical minerals space.
Critical Metal’s has a controlling 100% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, a medium-scale asset in the Katangan Copperbelt.
The project is located in the Democratic Republic of Congo, approximately 100 kilometres from Lubumbashi, accessible from Lubumbashi City, in the Katanga territory, 30 kilometres northwest from the village of Malambwe. Copper has been mined in the Katangan Copperbelt, in which Molulu Project is located, since at the least the late 19th century. The mineralised zones are at the western end of the Katangan Copperbelt, one of the great metallogenic provinces of the world, and contains some of the world’s richest copper, cobalt, and uranium deposits.
The Molulu Project has been under-developed due to a lack of investment and has much of the infrastructure in place, with proximity to copper smelters in Lubumbashi and Likasi, we have clear processing and/or selling channels for copper and cobalt production. In January 2023, it was announced that production had commenced at Molulu .
- Controlling stake of 100% in Madini Occidental, which holds a 70% interest in the Molulu Project for a total consideration of $750,000
- The Molulu Project is an ex-producing medium-scale copper/cobalt asset in the Katangan Copperbelt, adjacent to producing mines
- Previously mined by artisanal miners from 4 pits
- The Molulu asset commenced production in Janiary 2023, generating near-term free cashflow
- The Molulu Project’s copper grades range between 15% & 40% (sulphides) and 2% and 15% (oxides). Cobalt areas have been identified and will be drilled for confirmation
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