Moab Minerals Secures $500,000 Investment for Manyoni Uranium Project

Moab Minerals Limited has received $500,000 from European Lithium for the Manyoni Uranium Project in Tanzania. The funds will enhance exploration and working capital. High-grade uranium deposits were confirmed in February 2025, with important milestones set for 2025. Moab is also pursuing gold and lithium deposits in Ghana. Additionally, African Mining Week will be held in October 2025 in Cape Town.

Moab Minerals Limited has secured a commitment of $500,000 from European Lithium, an Australian mining firm, to enhance the Manyoni Uranium Project located in Tanzania. This financial support will come through a private placement, which will facilitate exploration activities at Manyoni and strengthen Moab’s overall working capital position.

In February 2025, Moab reported promising drilling results indicating the presence of high-grade, commercially viable uranium deposits at the Manyoni site. The company plans to release metallurgical test results for the project in March 2025, initiate expanded drilling by September 2025, and publish a maiden mineral resource estimate by December 2025. Furthermore, Moab is actively investigating gold and lithium deposits in Ghana.

African Mining Week stands out as a distinguished platform dedicated to uncovering a wide array of mining opportunities throughout Africa. This prominent event is set to occur concurrently with the African Energy Week: Invest in African Energies 2025 conference, scheduled for October 1-3 in Cape Town. Interested sponsors, exhibitors, and delegates can acquire additional information by reaching out to [email protected].

In summary, Moab Minerals Limited’s partnership with European Lithium for a $500,000 investment marks a significant step for the Manyoni Uranium Project in Tanzania. Upcoming metallurgical tests and mineral estimates are poised to shape the project’s future, highlighting Moab’s commitment to expanding its asset portfolio which also includes ventures in Ghana. Moreover, the African Mining Week conference offers a vital forum for networking and investment in Africa’s mining sector.

Original Source: energycapitalpower.com