Europa Metals to Acquire Marula Africa, Expanding Battery Metals Portfolio Across Africa

Europa Metals Ltd. has announced a transformative deal to acquire Marula Africa Mining Holdings, marking its entry into the fast-growing battery and renewable energy metals sector. The proposed acquisition, structured through a share-based transaction, will give the London-listed company control of a diverse portfolio of producing and near-producing assets across East and Southern Africa. This strategic move positions Europa as an emerging mid-tier mining player in the critical minerals supply chain, supplying essential metals such as lithium, copper, manganese, and rare earth elements to meet the accelerating global demand driven by electric vehicles (EVs) and clean energy technologies.

Under the terms of the agreement, Europa Metals will issue nine new shares for each Marula Africa share, effectively acquiring Marula Mining, which is listed in both London and South Africa. The transaction qualifies as a reverse takeover under AIM regulations, resulting in the suspension of Europa’s shares until the completion of the deal and subsequent readmission to trading. Once finalized, the merger will give Europa immediate access to Marula’s operational assets and ongoing revenue streams, a rare advantage for a company of its size in the junior mining sector.

Marula Africa’s portfolio spans Kenya, Tanzania, Burundi, and South Africa, comprising a combination of producing, near-term, and early-stage projects. The producing assets include the Blesberg lithium and tantalum mine in South Africa, the Kilifi manganese processing plant in Kenya, and the Kinusi copper mine in Tanzania. Several of these operations are already exporting ore, with further shipments scheduled in the coming quarter. Additionally, the acquisition brings Europa a pipeline of exploration-stage projects targeting graphite, lithium, and rare earth elements, which are crucial for battery manufacturing, renewable power systems, and advanced electronics. The deal is expected to be cashflow-generative, giving Europa both operational momentum and early revenue diversification.

As part of the transaction, Europa will assist in covering Marula’s transaction costs and provide a bridge financing facility to support near-term operations. Subject to due diligence, shareholder approval, and final documentation, the combined entity will form a diversified, dual-listed mining company with exposure to multiple critical mineral markets. The group may also cancel its AIM listing while maintaining its presence on the Johannesburg Stock Exchange (JSE), aligning more closely with its African operating base.

Leadership from both companies highlighted the strategic importance of the merger. Jason Brewer, CEO of Marula, and Myles Campion, Europa’s Executive Chairman and Acting CEO, stated that the transaction will accelerate production growth and strengthen the company’s foothold across the African critical minerals landscape. By consolidating producing assets with strong exploration potential, Europa Metals aims to establish itself as a key supplier of energy transition metals to international markets.

If completed, the merger will create a robust, African-focused mining group with near-term production capacity and long-term scalability. It will also underscore Africa’s growing role as a cornerstone of the global critical minerals economy, supporting sustainable industrial development while contributing to the world’s shift toward low-carbon technologies.

Mini-Glossary

• Reverse Takeover (RTO): A process where a private company effectively becomes publicly listed by merging with an existing public company.
• Critical Minerals: Elements essential to high-tech industries and renewable energy, such as lithium, cobalt, and rare earths.
• Tantalum: A rare metal used in electronics, aerospace, and capacitors due to its heat resistance and conductivity.
• Rare Earth Elements (REE): A group of 17 metals vital for electric motors, wind turbines, and other advanced technologies.
• Bridge Facility: A short-term loan or credit line used to provide interim financing until longer-term funding is secured.
• Dual Listing: When a company’s shares are traded on two stock exchanges, enhancing liquidity and investor access.