Australian company European Lithium has committed $500,000 to Moab Minerals for their Manyoni Uranium Project in Tanzania. This investment will support exploration and working capital. The company confirmed high-grade uranium deposits and plans to announce further developments through 2025. Additionally, African Mining Week offers a platform for discussing mining opportunities in Africa.
Moab Minerals Limited has secured a commitment of $500,000 from Australian mining firm European Lithium to advance its Manyoni Uranium Project in Tanzania. This funding, obtained through a private placement, aims to support ongoing exploration efforts at the project, while also enhancing Moab’s general working capital.
Recent drilling results from February 2025 have confirmed the existence of high-grade, commercially viable uranium deposits at the Manyoni site. Moab Minerals plans to disclose metallurgical test results in March 2025, initiate expanded drilling operations in September 2025, and deliver a maiden mineral resource estimate by December 2025. Additionally, the company is engaged in the exploration of gold and lithium resources in Ghana.
African Mining Week, a leading platform, provides an opportunity to explore extensive mining prospects across Africa. Scheduled for October 1-3 in Cape Town, the event runs concurrently with the African Energy Week: Invest in African Energies 2025 conference. Interested parties, including sponsors and exhibitors, may obtain further details by reaching out to [email protected].
In summary, Moab Minerals Limited has successfully secured $500,000 for the Manyoni Uranium Project, which will facilitate exploration and development efforts. Confirmed high-grade uranium deposits promise significant potential, alongside future activities including metallurgical testing and resource estimation. Furthermore, African Mining Week presents a valuable opportunity for stakeholders in the mining sector to explore investment possibilities across Africa.
Original Source: energycapitalpower.com
