DRC Mine Manager Appointed & Molulu Project Update

RNS Number : 5283G

Critical Metals PLC

16 November 2022

 

Critical Metals plc / EPIC: CRTM / Market: Main Market / Sector: Closed End Investments 

 16 November 2022

Critical Metals plc  

("Critical Metals" or the "Company") 

Critical Metals appoints DRC Mine Manager & provides an update on the Molulu Copper & Cobalt Project

Critical Metals plc, a mining company established to acquire mining opportunities in the critical and strategic metals sector, currently developing an ex-producing copper cobalt mine in the Democratic Republic of Congo ("DRC"), is pleased to announce the appointment of John Greeff as the Mine Manager at the Company's Molulu copper/cobalt project ("Molulu") with immediate effect. 

Mr. Greeff has over 30 years' experience in the mining industry, including having held senior management positions across the world, notably in Africa and North America. Mr. Greeff holds extensive qualifications, including in Global Risk Management from the University of Pretoria's faculty of Engineering, Build Environment, and Information Technology. Mr. Greeff also holds a Mine Overseers Certificate of Competency. This experience makes Mr. Greeff a valuable new asset to the Critical Metals team, as the Molulu project moves into its next stage of development. 

Mr. Greeff has worked in a range of different mining jurisdictions including Zimbabwe, Rwanda, Canada, South Africa, and Angola. His experience has equipped him with a detailed understanding of work on the ground at a mine site in various stages of development.

Mr. Greeff has arrived in the DRC and will be based at the mine site in Molulu, with his role of managing all activities on site including overseeing overall management of the camp at Molulu, managing exploration, managing all mining practices, financial budgeting, management of the workforce, mine production and quality oversite, amongst others.

With this enhanced complement of mining professionals now living on site in Molulu, Mr. Greeff will work alongside engineers, geologists, and the Competent Person to prepare a drill programme based on recent mapping and data collection. Discussions on areas to drill began in late September and continue today with Mr. Greeff's input.

The camp is now operational and onsite developments continue. The Company has contract arrangements for the required earth moving and mining equipment that will be used in copper oxide ore production, as well as a contract arrangement for a 20,000-litre diesel fuel tank to support mining operations, which will arrive at the Molulu camp early next week. The VSAT communication and WIFI network have been commissioned, utilising an off-grid solution of solar PV panels and a battery bank.

The onsite team have also been involved in the repairs of infrastructure, including the Company's recently appointed site manager, Lloyd Kirtley, who is designing a brick making process to increase and fortify the camp's infrastructure, to ensure adequate protection from the seasonal heavy rains that normally arrive at the end of the year.

Russell Fryer, CEO of Critical Metals, commented: " I am pleased to be able to share with our shareholders a further significant addition to the team at Molulu with the appointment of John Greeff as the Molulu mine manager. John's vast experience of working on mining projects in the region will provide valuable knowledge on the ground at Molulu as we continue to build a strong onsite team. Alongside John, the rest of the team in Molulu are working to repair and prepare the mines infrastructure already of production in the coming months and take steps to prepare the mine for the seasonal rainfall expected in January.

Overall, I am very encouraged with the progress the team are making in Molulu and I look forward to providing shareholders with future positive news from Molulu."

**ENDS**  

For further information on the Company please visit  www.criticalmetals.co.uk  or contact: 

Russell Fryer	Critical Metals plc	Tel: [phone]
Heena Karani	Peterhouse Capital Limited, Corporate Broker	Tel: [phone]  Tel: [phone]
Catherine Leftley/Ana Ribeiro/Isabelle Morris	St Brides Partners Ltd,  Financial PR	Tel: [phone]

About Critical Metals  

Critical Metals PLC has  acquired  a controlling 57% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, an ex-producing medium-scale asset in the Katangan Copperbelt in the Democratic Republic of Congo. In line with its investment strategy of focusing primarily on known deposits, targeting projects with low entry costs and potential to generate short-term cash flow; the Company intends on bringing the Molulu Project into near term production at the earliest opportunity. 

The Company will continue to identify future assets that are line with its stated acquisition objective of low CAPEX and OPEX projects with near term production, concentrating on minerals that are perceived to have strategic importance to future economic growth and generate significant value for shareholders. 

 

END

 

 

UPDEAFFSFDSAFAA