REG - Critical Metals PLC - DRC Mine Manager Appointed & Molulu Project Update

Critical MetalsAnnouncement

16/11/2022 07:00

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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
(http://www.criticalmetals.co.uk/)  or contact:

 

 Russell Fryer                                     Critical Metals plc                             Tel: +44 (0)20 7236 1177

                                                                                                    

  Heena Karani                                     Peterhouse Capital Limited, Corporate Broker    Tel: +44 (0)20 7469 0936

  

                                                                                                   Tel: +44 (0)20 7469 0933

 Catherine Leftley/Ana Ribeiro/Isabelle Morris     St Brides Partners Ltd,                         Tel: +44 (0)20 7236 1177

                                                   Financial PR

                                                    

 

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.

 

 

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