Kula Gold Secures Joint Venture for Malawi Niobium Project

LILONGWE, Malawi — Kula Gold Limited (ASX:KGD) has formed a joint venture with African Rare Metals to develop the Wozi Niobium Project in Malawi, marking a significant step in the exploration of niobium and tantalum resources. The Malawi Government’s Mining and Minerals Regulatory Authority has recommended granting an exploration license, pending the completion of an environmental study.

The joint venture, in which Kula Gold holds a 75% stake and African Rare Metals retains 25%, aims to confirm historical niobium results and assess the project’s large-scale potential. Initial exploration will include field mapping, rock chip sampling, and soil sampling, with a maiden drilling program targeted for the second quarter of 2025.

Ric Dawson, Managing Director of Kula Gold, described the Wozi Project as a “high-impact, low-cost opportunity” in a robust global gold market. “We look forward to advancing the project swiftly over the coming months,” Dawson said in a statement.

The Wozi Project is notable for its significant zone of niobium and tantalum mineralization, hosted in the mineral pyrochlore within a nepheline syenite stock. Historical results indicate surface mineralization, with the potential for large-scale extraction. The project’s near-term activities, including geological mapping and sampling, are expected to cost approximately $159,577, funded through a loan provided by entities controlled by Kula Gold director Mark Stowell.

Kula Gold, primarily focused on gold exploration in Australia, is diversifying its portfolio with the Wozi Project. The company also explores for lithium, rare earths, and halloysite, leveraging its expertise in African mining operations. African Rare Metals will receive a 2% net smelter return royalty once the project moves into production.

Niobium, a critical mineral used in steel production and superconductors, is increasingly in demand globally. The Wozi Project’s development aligns with Kula Gold’s strategy to capitalize on this growing market while expanding its presence in Africa.